A critique of Milton Friedman's essay ‘the social responsibility of business is to increase its profits’
The main arguments of Milton Friedman's famous and influential essay are unsuccessful: He fails to prove that the exercise of social responsibility in business is by nature an unfair and socialist practice., Much of Friedman's case is based on a questionable paradigm; a key premise is fals...
| Main Author: | |
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| Format: | Electronic Article |
| Language: | English |
| Check availability: | HBZ Gateway |
| Journals Online & Print: | Drawer...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Published: |
Springer Science + Business Media B. V
1986
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| In: |
Journal of business ethics
Year: 1986, Volume: 5, Issue: 4, Pages: 265-269 |
| Further subjects: | B
Social Responsibility
B Socialist Practice B Responsible Action B Milton B Economic Growth |
| Online Access: |
Volltext (JSTOR) Volltext (lizenzpflichtig) |
| Summary: | The main arguments of Milton Friedman's famous and influential essay are unsuccessful: He fails to prove that the exercise of social responsibility in business is by nature an unfair and socialist practice., Much of Friedman's case is based on a questionable paradigm; a key premise is false; and logical cogency is sometimes missing., The author proposes a different paradigm for socially responsible action in business and argues that a commitment to social responsibility can be an integral element in strategic and operational business management without producing any of the objectionable results claimed by Friedman. |
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| ISSN: | 1573-0697 |
| Contains: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/BF00383091 |