I’d have to agree with wryfi here in regards to Milton Friedman. Taking the account of corporations in existence ever since the Dutch in the 1600s, Dutch East India Company, I do think this really awful concept predates Friedman. I would even dare to say, even further then Ford. Take a look at bubbles that burst historically, ie. South Sea Company (1700s), Railway mania (1800s), etc,. All over value at the extremes, hard to say maximizing shareholder value didn’t take into an account.
I think it would be better just to look at the previous article titled: The Dumbest Idea In The World: Maximizing Shareholder Value.
