Corporate Social Responsibility In his book Capitalism and Freedom, economist Milton Friedman wrote on page 133: “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 . . . engages in open and free competition, without deception or fraud.” Required: Explain why you agree or disagree with this quote.
Corporate Social Responsibility In his book Capitalism and Freedom, economist Milton Friedman wrote on page 133: “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 . . . engages in open and free competition, without deception or fraud.” Required: Explain why you agree or disagree with this quote.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Corporate Social Responsibility
In his book Capitalism and Freedom, economist Milton Friedman wrote on page 133: “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 . . . engages in open and free competition, without deception or fraud.”
Required:
Explain why you agree or disagree with this quote.
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