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The Black Guardian

Location: Paragon City, RI
Member Since: Sat May 17, 2008
In Reply To

Subj: Re: Milton Friedman: Economist
Posted: Wed Oct 15, 2008 at 12:15:22 am EDT (Viewed 607 times)
Reply Subj: Milton Friedman: Economist
Posted: Tue Oct 14, 2008 at 07:28:00 pm EDT (Viewed 732 times)

> Go to and you'll find the
> following paragraph:
> ---------------------------
> In 1970 Milton Friedman wrote that "there is one and only one social
> responsibility of business--to use its resources and engage in
> activities designed to increase its profits so long as it stays
> within the rules of the game, which is to say, engages in open and
> free competition without deception or fraud." That's the orthodox
> view among free market economists: that the only social
> responsibility a law-abiding business has is to maximize profits for
> the shareholders.
> ---------------------------
> Do you agree or disagree with Milton Friedman and the orthodoxy view
> among free market economists?
> Other possible stakeholders of any business: its workers, its
> customers, its suppliers, its community, and its nation.

I don't agree with it at all. It's probably my definition of "social reposnsibility," which I interpret to be any responsibility to society. Every responsibility I have to my fellow man, a business has.

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