Friedman revisited - Philantropy, ESG and the purpose of business

Tim Brockmann

March 20, 2022

Should private businesses pursue non-monetary goals? The question has been fiercely debated for generations and with the recent rise of the ESG movement the question is as timely as ever.

5 Minute Read
That responsibility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom.

Milton Friedman

  • The roots of the concept of philanthropy reach back thousands of years, and Switzerland and Geneva, in particular, have played a notable role in developing the concept of private foundations.
  • Amadeus has actively contributed to the scene through its long-standing relationship with the L’AssociationSuisse pour la Recherche sur l’Alzheimer (APRA)
  • This publication elaborates on the history of philanthropy, the controversial question of the purpose of private business activity, and the ESG movement’s role in this context.

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