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Profit Maximization Must Fail

In: The Purpose of Business

Author

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  • Albert Erisman

Abstract

Headlines have chronicled a wave of business scandals over the past decade. The Occupy Wall Street movement has moved beyond the US borders as a statement against an institution that seems, to many, to have gone out of control: too much power, too much concentrated wealth, too little accountability, and too much impact on the rest of society. This is a good time to ask a very fundamental question: what is the purpose of business?

Suggested Citation

  • Albert Erisman, 2015. "Profit Maximization Must Fail," Palgrave Macmillan Books, in: Albert Erisman & David Gautschi (ed.), The Purpose of Business, chapter 0, pages 53-84, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-50324-4_3
    DOI: 10.1057/9781137503244_3
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