The New York Times, August 20, 2019: Save capitalism by paying people more
American businesses are sending a clear message: They need to focus on doing more than making profit. On Monday, the Business Roundtable, which represents the largest corporations in the United States, published a new, broader statement about the purpose of business, declaring that delivering shareholder value is not enough. The United States Chamber of Commerce, which represents three million businesses, revised its purpose last year to focus on job creation.
That said, accomplishing these aspirations requires more dialogue and action, and there is much more that we can do. Investors in these companies should ask management and boards of directors to focus on jobs. American businesses prosper by asking tough questions, creating specific goals and executing plans. This must now be applied to creating higher-paying jobs.