![United States: Does Shareholder Primacy Mean Just Maximizing Profits—and What Does Exxon Have To Do With It? - Cooley LLP](https://cdn.newsserve.net/ONPglobe256.png)
United States: Does Shareholder Primacy Mean Just Maximizing Profits—and What Does Exxon Have To Do With It? - Cooley LLP
As you know, the shareholder primacy theory is widely attributed to the Chicago school of economists, beginning in the 1970s, with economist Milton Friedman famously arguing that the only "social responsibility of business is to increase its profits."
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