ANALYSIS: Corporate Purpose Could Be as Simple as PBCs

The Covid-19 pandemic has forced corporate America to take a long, hard look at itself. Corporate responses to this crisis involve reassessing entire business structures—from employee rights and benefits to supply chain management to environmental, social, and governance matters. This assessment necessitates an evaluation of the purpose of the corporation, a debate that has been academic for years but is now all too real for business leaders in the current health and economic crisis.

Is it possible that the resolution to this debate is simple enough for the old Franciscan friar, William of Occam? When asking about the purpose of ...