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Many people firmly believe that the purpose of business is to maximize shareholder value. However, as we learned from The Age of Customer Capitalism that

Many people firmly believe that the purpose of business is to maximize shareholder value. However, as we learned from "The Age of Customer Capitalism" that notion has not always been the case. In fact, according to that article, "maximizing shareholder wealth" as an overall corporate philosophy actually started when?
in the 1970's
shortly before the start of the industrial revolution (late 1800's)
shortly after the end of the industrial revolution (early 1900's)
when the Generally Accepted Accounting Principles (GAAP) were formally adopted by the Financial Accounting Standards Board
(FASB)
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