“[T]he old concept that the owner of a business had a right to use his property as he pleased to maximize profits, has evolved into the belief that ownership carries certain binding social obligations. Today’s manager serves as trustee not only for the owners but for the workers and indeed for our entire society… Corporations have developed a sensitive awareness of their responsibility for maintaining an equitable balance among the claims of stockholders, employees, customers, and the public at large.”–David Rockefeller, president of Chase Manhattan Bank, gave a speech to the American Philosophical Society. 1962 (Time)
Makes 1962 feel like 200 years ago. Have a great weekend.
