Pay people more to restore faith in capitalism

American businesses are sending a clear message: They need to focus on doing more than making profit.

The Business Roundtable, which represents the largest corporations in the United States, published a new, broader statement about the purpose of business, declaring that delivering shareholder value is not enough. The US Chamber of Commerce, which represents three million businesses, revised its purpose last year to focus on job creation.

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A version of this article appeared in the print edition of The Straits Times on August 22, 2019, with the headline 'Pay people more to restore faith in capitalism'. Print Edition | Subscribe