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The revolution is coming. Actually, it might already be here.

Paul Tudor Jones knew this day would come. He’s seen what the angry, unwashed masses look like up close, and he’s been working for years to either head off their seizure of power or ensure that when it happens, the political commissars will look more kindly upon him than some others in the reeducation camps. And now that the people are in the streets, and not just his street, he’s redoubling his efforts.

“When you just look and say that the only thing that a company has to worry about is making a profit, it gives that company a pass not to pay attention to pay equity, not to pay attention to gender equity, not to pay attention to racial equality. Not to pay attention to a whole host of social factors that at the end of the day are the basis and the foundation of a strong, vibrant society,” Jones said…. Jones challenged the teachings of Milton Friedman, the U.S. economist who famously argued in 1970 that companies exist solely to maximize profits. The fund manager blasted that view as “very narrow, myopic and transactional” and blamed that idea for helping to undermine the social and civil rights changes sought throughout the 1960s.

Paul Tudor Jones says companies can no longer exist just to maximize profits [CNBC]



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