. What is "utilitarianism?"

2. The first item I'd like us to wrestle with is the seemingly nonsensical notion that the firm has responsibilities of a social nature, that go beyond the "purpose of the firm" under the governance of the "business judgement rule."

So, we understand that in "American Capitalism," the purpose of the firm in the "for profit" arena is to "maximize shareholder value." Other elements such as "clean air and water" are the purview of government, and the regulatory and legal environment created by legislators and such. Under what theory would it be the responsibility of "the firm" to manage same, beyond the rules & regs, as well as the laws prescribed by Federal, State and Local governments?