“The state should adopt this business hybrid that enables profits, common good.
In his November Apostolic Exhortation, Pope Francis challenged business leaders to use the power of capitalism to deliberately address social issues, not just to accumulate personal wealth. Other prominent figures like Bill Gates have been making similar appeals for several years.
As last Sunday’s article on the subject reported (‘New business on the agenda,’ Feb 2), later this month a bipartisan group of Minnesota legislators will introduce the Minnesota Public Benefit Corporation Act (MPBCA). If passed, this bill would enable entrepreneurs who are inspired by this challenge to create a new type of for-profit entity that also requires a social purpose (commonly called a ‘social business’).”
Read the full article via Star Tribune here.