Search results
Sep 16, 2020 · Milton Friedman’s epochal essay, “The Social Responsibility of Business Is To Increase Its Profits,” was published in the New York Times Magazine 50 years ago this month.
- Taylor Tepper
Discover Milton Friedman quotes about social responsibility. Share with friends. Create amazing picture quotes from Milton Friedman quotations.
Sep 30, 2020 · Milton Friedman wrote his famous piece about corporate social responsibility 50 years ago. The wisdom of the piece has been influential, productive, and remains true today. It is important to understand what Friedman actually said and meant: “There is one and only one social responsibility of business—to use its resources and engage in ...
Sep 11, 2020 · Friedman’s stance was plain: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to increase its profits.” That view has long influenced management thinking, corporate governance, and strategic moves.
- There is one and only one 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.
- So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible?
- Why have we had such a decline in moral climate? I submit to you that a major factor has been a change in the philosophy which has been dominant, a change from belief in individual responsibility to belief in social responsibility.
- The only corporate social responsibility a company has is to maximize its profits. Milton Friedman. Responsibility, Social, Profit.
“There is one and only one social responsibility of business–to use it 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” ― Milton Friedman
People also ask
What does Friedman say about social responsibility?
When did Milton Friedman write corporate purpose?
Should we reconsider Friedman's essay on corporate social responsibility?
Is Friedman right about maximizing shareholder value?
Sep 11, 2020 · Friedman ends with a warning: The doctrine of “social responsibility” would invade “every human activity.” But he got it backward.
