In a recent article for De Groene Amsterdammer, Isabelle Ferreras discusses with the interviewer why shareholders wield disproportionate power in neoliberal corporations and how progressive movements have sidelined the ideal of economic democracy. The article reflects on the influence of Milton Friedman’s seminal 1970 New York Times essay, where he argued that a corporation’s sole purpose is to maximize shareholder value. This « Friedman Doctrine » set the stage for decades of corporate focus on stock prices, often at the expense of workers, communities, and environmental sustainability. Ferreras examines how these ideas have shaped today’s corporate priorities and calls for a renewed focus on economic democracy and worker governance in firms.
Isabelle Ferreras 