Post your article about Social Responsibility: 1. What is the article about? 2. What did you...

Post your article about Social Responsibility:

1. What is the article about?

2. What did you learn?

Expert Solution

Article: Quinn Connely. April 02, 2018. Milton Friedman, and the Total Discredit of 'Corporate Social Responsibility’. RealClear Markets

1. This article discusses the viability of the Milton Friedman’s view on CSR. Milton Friedman believed that there is only one social responsibility of any business, i.e. to utilize its resources to engage in activities that improve its profits, as long as the business works within the rules, engages in free competition, without any deception or fraud.

2. From this reading I understood that Adam Smith’s view on capitalism and self-interest, reflected in Milton Friedman’s views on social responsibility. Milton Friedman’s emphasis on profit maximization can be an answer to how we can live peacefully and prosperously together. Political mechanisms and market’s ability to create equitable value for the shareholder and society formed the basis of Milton Friedman’s view.

keosha answered 8 months ago

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