Among other things, this economist developed the " shareholder theory" or Friedman doctrine, an ethical standpoint: > This [shareholder primacy](https://en.wikipedia.org/wiki/Shareholder_primacy "Shareholder primacy") approach views shareholders as the economic engine of the organization and the only group to which the firm is socially responsible. As such, the goal of the firm is to increase its profits and maximize [returns](https://en.wikipedia.org/wiki/Rate_of_return "Rate of return") to shareholders. (from [Friedman doctrine - Wikipedia](https://en.wikipedia.org/wiki/Friedman_doctrine#cite_note-MIT-1)). ... as opposed to the " stakeholder theory" which states that an executive should also take into account others such as employees, or society.