# Profs Ralph Gomory and Richard Sylla on the obligations of American corporations

1 Faculty News June 17, 2013 ![](/sites/default/files/styles/246w/public/assets/images/con_042407.jpg?itok=jc0uNXlT)>

Excerpt from [Tucson Sentinel](http://www.tucsonsentinel.com/nationworld/report/061713_citizen_obligations/citizens-without-obligations/) -- "'The idea that a corporation exists solely to make money is actually quite new,' explained [Ralph Gomory](http://www.stern.nyu.edu/faculty/bio/ralph-gomory), a professor of management at New York University...'Even in the early ’80s, you would be more likely to hear a CEO talking about his responsibilities to the country or to his employees than his duty to the shareholders.'”

[Read more](http://www.tucsonsentinel.com/nationworld/report/061713_citizen_obligations/citizens-without-obligations/)