How does Milton Friedman understand corporate social responsibility and what is his position in regard to...

How does Milton Friedman understand corporate social responsibility and what is his position in regard to it?

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According to Milton Friedman the corporate social responsibility of the business is to maximize their profits or increase its shareholders value in fair and competitive way. Milton Friedman stated that the major responsibility of corporates is that they should utilize their resources in making and increasing their profit and by that way; they can contribute to their social responsibility. But the corporations should adopt fair, transparent and competitive business practices to maximize their profit in a free economy.

keosha answered 1 year ago

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