According to Friedman, businessman who talk about “social responsibility of business in a free-enterprise system” are preaching pure and unadulterated socialism. In his view, corporate executives shall exclusively strive after increasing the company’s profits. If businessmen don’t act like this, they consequently act in some way that is not in the interest of the employers. “For example, that he is to refrain from increasing the price of the product in order to contribute to the social objective of preventing inflation, even though a price in crease would be in the best interests of the corporation.”
One response to “The Social Responsibility of Business is to Increase its Profits”
I published a discussion on Friedman’s paper. Thoughts are welcome.