According to Milton Friedman, “Business has only one social responsibility – to

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According to Milton Friedman, “Business has only one social responsibility – to make profits (as long as it stays within the legal and moral rules of the game established by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible.” Explain why you agree or disagree with such a statement.
Additional information:
Milton Friedman was the recipient of the Nobel Memorial Prize in Economic Sciences in 1976.
“Not looking to your own interests but each of you to the interests of the others” (Philippians 2:4, NIV).
The student is required to answer the question in each Discussion with
at least 1 citation in current APA format. Each Discussion thread must be at least 300 words.
Required Resource:
(This required resource has been provided in this course as an e-book). However, if the student prefers a physical copy of the book, he or she may purchase it through the Liberty University Online bookstore, MBS Direct. The purchase of the physical copy of the textbook is optional.
Baye, M. R., & Prince, J. (2022). Managerial Economics and Business Strategy (10th ed.). New York, NY: Richard D. Irwin, Inc.

 

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