You are not currently logged in.
Access JSTOR through your library or other institution:
A Critique of Milton Friedman's Essay 'The Social Responsibility of Business Is to Increase Its Profits'
Journal of Business Ethics
Vol. 5, No. 4 (Aug., 1986), pp. 265-269
Published by: Springer
Stable URL: http://www.jstor.org/stable/25071587
Page Count: 5
You can always find the topics here!Topics: Social responsibility, Business executives, Taxes, Socialism, Executive branch, Business structures, Businesspeople, Civil service, Market mechanisms, Scarce resources
Were these topics helpful?See somethings inaccurate? Let us know!
Select the topics that are inaccurate.
Preview not available
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.
Journal of Business Ethics © 1986 Springer