"It's Long Past Time to Chart a Different Path"

"Without the assumption that shareholders care only for profits, the entirety of Friedman's argument collapses. According to his own logic, if shareholder concerns are dominant and shareholders care about something other than profits, then profits cannot be the sole corporate mission. Friedman appears to recognize this weakness: He nods to the possibility of forming corporations as hospitals, schools, or for other charitable purposes. He also allows that sole proprietors, and presumably partnerships, may manage their businesses however they please, though he passes over them as largely irrelevant. For Friedman, the big prize is driving the activity of large corporations exclusively towards profit seeking, and he leaves no room for the possibility that such enterprises could pursue both profit and public benefit." 

At Democracy, Jonathan Soros criticizes the Friedman Doctrine fifty years later.