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Events • January 11, 2024 

# *The Case for Shareholder Capitalism: How the Pursuit of Profit Benefits All*

At its essence, shareholder capitalism is a means for mutually beneficial trade. It fosters specialization, fuels innovation, and propels economic growth. While shareholder capitalism is a central theme in Finance 101 courses, it is increasingly criticized, especially with the popularization of sustainability, ESG investing, and stakeholder capitalism.

[![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) 
This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/). 

##### Featuring 

![R. David McLean portrait](/sites/cato.org/files/styles/author_picture/public/2023-12/r-david-mclean-cropped.png?itok=SrybMFbg) 

##### R. David McLean 

William G. Droms Professor of Finance, Georgetown University

![Edward Rock portrait](/sites/cato.org/files/styles/author_picture/public/2023-12/edward-b-rock-portrait-cropped.png?itok=Zs1wY-vx) 

##### Edward Rock 

Martin Lipton Professor of Law, New York University School of Law

[![Norbert Michel Cropped](/sites/cato.org/files/styles/author_picture/public/2025-01/norbert-m-cropped.jpg?itok=8WIx97Dk)](/people/norbert-michel) 

##### [Norbert J. Michel](/people/norbert-michel)

Vice President and Director, Center for Monetary and Financial Alternatives, Cato Institute

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](https://x.com/norbertjmichel)