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It is managers' responsibility to act solely in the interests of shareholders. The only responsibility of the managers of the corporation is to make profit,
"It is managers' responsibility to act solely in the interests of shareholders. The only responsibility of the managers of the corporation is to make profit, because it is for this task that the firm has been set up and the managers have been employed. Acting for any other purpose constitutes a betrayal of their special responsibility to shareholders and thus essentially represents a 'theft' from shareholders' pockets"
Milton Friedman
Critically assess the above statement.
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