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Shareholder Primacy and Stakeholder Welfare


Shareholder Primacy and Stakeholder Welfare

Cliff Asness, Allison Schrager
Nov 17, 2021 6:15pm — 8:30pm New York, NY
Wednesday Nov 17
Wednesday Nov 17 2021
PAST EVENT Wednesday Nov 17 2021

In the name of promoting equitable economic policy, a group of U.S. lawmakers recently called on the Biden administration to help transition the economy toward a system of stakeholder capitalism. Would such steps help American workers and consumers? Or does this effort reflect an incomplete understanding of market forces? AQR managing and founding principal Cliff Asness and MI senior fellow Allison Schrager conversed on the benefits of shareholder primacy, the implications of prioritizing market efficiency on stakeholders, and what alternative guiding principles could mean for society.

This event was exclusively for Adam Smith Society Young Leader members. Find out more about supporting our work here.

Cliff AsnessCliff Asness is a Founder, Managing Principal, and Chief Investment Officer at AQR Capital Management. He is an active researcher and has authored articles on a variety of financial topics for many publications, including The Journal of Portfolio Management, Financial Analysts Journal, The Journal of Finance, and The Journal of Financial Economics. He is the recipient of numerous awards, including five Bernstein Fabozzi/Jacobs Levy Awards from The Journal of Portfolio Management.

SchragerAllison Schrager is a senior fellow at the Manhattan Institute and a City Journal contributing editor, where her research focuses on public finance, pensions, tax policy, labor markets, and monetary policy. She is also the author of An Economist Walks into a Brothel and co-founder of LifeCycle Finance Partners, LLC, a risk advisory firm.




Public Policy


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