Stakeholder Capitalism Perverts Adam Smith’s Legacy

Stakeholder Capitalism Perverts Adam Smith’s Legacy

Fergus Hodgson, March 19, 2020

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Business leaders and CEOs have recently joined social-justice activists in demanding a new brand of capitalism that serves not only shareholders, but also employees, customers, suppliers, and other “stakeholders.”

Paz Gómez from Ecuador, a policy analyst with Econ Americas and a research associate with the Frontier Centre for Public Policy, explains why such a view is misguided and misses the point of Adam Smith’s famous invisible hand analogy.

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