Smith actually wrote against this very concept. The idea that a corporation's *o... | Hacker News

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		UncleMeat 8 months ago \| parent \| context \| favorite \| on: Microsoft to Cut 9k Workers in Second Wave of Majo... Smith actually wrote against this very concept. The idea that a corporation's only responsibility is to its shareholders is relatively recent.

cloverich 8 months ago [–]

I dont think you are wrong but i think thats leaving out a key, for me THE key take aways i got out of it. ie Smith didn’t imagine capitalism working without regulation. His whole model assumes a strong legal and institutional framework to keep markets fair and socially useful.

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