From Profit Primacy to Purpose Primacy: Colin Mayer's Concept

This article analyzes the evolution of the role of the corporation in light of Colin Mayer's concept, contrasting it with the traditional doctrine of Milton Friedman. The author argues that contemporary business must move away from the narrowly defined maximization of shareholder value toward the pursuit of a defined social purpose. A key element of this transformation is distinguishing between "false profits," generated at the expense of the environment, and "honest profits," which arise from the regeneration of natural and social resources. Mayer proposes a system based on six capitals and legal reforms, such as dividend blocking in situations of capital violations and tax neutrality for debt and capital. The text is a manifesto for a new era of capitalism, in which profit becomes a byproduct of solving human problems, not an end in itself, thus restoring trust in market institutions.