Is Joe Biden a moderate or a radical? He says businesses “have a responsibility to their workers, their community, to their country”—a truism. But he has also called for “an end to the era of shareholder capitalism.” He says it’s “untrue and a farce” that a company’s primary responsibility is to generate returns for shareholders. In reality, corporations do enormous social good precisely by seeking to generate returns for shareholders. They give investors a way of putting money into promising businesses without risking personal...

Source: Wall Street Journal August 17, 2020 22:52 UTC