Bus 101 Milton Friedman

Bus 101 Milton Friedman - Group Project Bus 102 Ms....

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Group Project Bus 102 Ms. Finnerty 4/17/2009 Milton Friedman Milton Freidman is an economist who truly believes in a free market. His argument is that businesses should be concerned with one main objective, to increase profits for shareholders.   Friedman says, “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 stays within the rules of the game, which is to say, engage in open and free competition without deception or fraud”(Freidman 79). He says that there is a social responsibility to use its resources to increase profits as long as no rules are broken. Freidman believes that only people, not corporations have social responsibilities, but in a corporation it is the executives who have a responsibility to the shareholders, which is to manage and maximize profits. The amount of government regulation in our economy is something that he had a
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This note was uploaded on 11/15/2011 for the course BUS 101 taught by Professor Rollins during the Fall '08 term at Miami University.

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