HKS Affiliated Authors

Additional Authors:

  • Karthik Ramanna


Do Managers Have a Role to Play in Sustaining the Institutions of Capitalism? Rebecca Henderson, Karthik Ramanna, October 2014, Paper. "In a capitalist system based on free markets, do managers have responsibilities to the system itself? If they do, should these responsibilities shape their behavior when they engage in the political processes that structure the institutions of capitalism? The  prevailing view—perhaps most eloquently argued by Milton Friedman—is that the first  duty of managers is to maximize shareholder value, and thus that they should take every opportunity..." Link