Critically analyse Milton Friedmans thoughts on the social responsibilites of business Free Essay, Term Paper and Book Report
In 1970, the Nobel Prize winning economist Milton Friedman published an article that has since become a classic among those who question the alleged social role of corporations. Under the provocative title The social responsibility of business is to increase profits he vigorously protested against the notion of social responsibilities for corporations. This essay will aim to examine Friedmans argument and other academics that support his view. It will then move on to critically evaluate this statement, to justify possible relationships between profit and CSR, and to highlight the changed social attitudes and culture that now make CSR almost a necessity not only for profit, but survival.
According to Carroll (1999) the systematic reasoning about a conceptual framework for Corporate Social Responsibility started in the USA half a century ago. Friedmans (1970) argument was based on three main premises.
Only human beings have a moral responsibility for their actions. Corporations are not human beings and therefore cannot assume true responsibility for their actions. Since......
Word Count: 3449
Page Count: 13.7 (250 words a page / double spaced)
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