Economic Theory

Milton Friedman, Nobel Peace Prize Winner in Economic Theory, said that the business of business and the only social responsibility of a business is to make a profit and that if it consistently fails that purpose, it will soon cease to exist. Do you agree with that sentiment? Why? Why not? Can one make a business argument for social responsibility? That is, can Friedman’s assertion be reconciled with the current theory that firms have a Social Responsibility to Society? .For more information on  Economic Theory Check: https://www.oxfordreference.com/view/10.1093/acref/9780192801463.001.0001/acref-9780192801463-e-761

 

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Economic Theory

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