final - Freidman "The Social Responsibility of...

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Freidman “The Social Responsibility of Business is to Increase Profits” A corporate executive is an employee of the owners of the business. He has direct responsibility to his employers. He has a social responsibility to act in some way that is not in the interest of his employers. Inappropriate ways to spend the companies money, making excessive contribution to reducing pollution, or that he hire’s people who are unemployed. Instead of people who are better qualified. Instead of spending the corporation’s money, people who are into these interest’s can have separate money, and spend it then. If he spent that money, then he won’t be an agent to his stock holders and employees. If this happens then he could be imposing taxes. There are two levels, principle and consequences, on the level of political principle, the imposition of taxes and the expenditure of tax proceeds are governmental function. We make sure that taxes are imposed so far as possible in accordance with the preferences and desires of the public, after all taxation without representation was one of the battles of the American Revolution. We
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This note was uploaded on 04/21/2008 for the course ECON 101 taught by Professor Ganley during the Fall '06 term at SUNY Geneseo.

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final - Freidman "The Social Responsibility of...

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