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Patriotism is replacing purpose in American business

What are companies for? Five years ago the Business Roundtable, a coven of American chief executives, overturned orthodoxy on this question. For decades company bosses had agreed that their mission was to make their shareholders richer. Doing good meant doing well. More precisely, it meant raising their firm’s share price. Such a narrow measure of success, it was argued, would keep managers focused and honest.

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