In 1962, the economist Milton Friedman categorically stated that "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, engages in open and free competition without deception or fraud." Later, in 1970, he specified that these profits must be obtained "while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom."
See full Article (subscription required).
Posts
