For Profit by William Magnuson
Corporations have a tremendous influence on our lives, our economy, and our politics, from established manufacturers to up-and-coming tech behemoths. Some view them as catalysts for development and wealth. Some claim that they irresponsibly pursue financial gain at the expense of everyone.
Both perspectives have some truth to them, as law professor William Magnuson explains in For Profit. The history of the company is a human history that tells the tale of a diverse set of investors, bankers, and businessmen who over time helped to mould the features of our contemporary economy. The courageous, strong, and clever as well as the cunning, dishonest, and vicious are among its main characters. These characters have occasionally been the same person.
For Profit by William Magnuson
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Magnuson demonstrates that although businesses haven’t always acted honourably, they nevertheless have noble goals. Corporations have been created with the goal of advancing the common good since their inception in the Roman Republic. For Profit contends that businesses may contribute to the creation of a society in which everyone—not just shareholders—benefits from the profits of the business by reviving this spirit of civic virtue.
Anyone searching for a page-turner to enlighten them about how companies created the modern world should read this book. The Medici bank, the East India Company, the Union Pacific Railroad, Ford Motor, Exxon, KKR, and, lastly, Facebook are all explored in detail after the first chapter on the early Roman company.
Each chapter has the impression of a distinct magazine article or radio program thanks to Professor Magnuson’s lively and well-paced writing style, yet they are connected by recurring ideas that are further discussed in the introduction and conclusion.
