According to Milton Friedman, \”Business has only one social responsibility – to make profits

According to Milton Friedman, “Business has only one social responsibility “ to make profits (as long as it stays within the legal and moral rules of the game established by society). Few trends could so thoroughly undermine the very foundations of our society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible.” Explain why you agree or disagree with such a statement.

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Response to Milton Friedman’s View on Corporate Social Responsibility
Milton Friedman supports a situation where businesses concentrate on the generation of profits. To support his assertion, Friedman indicates that companies that focus on creating wealth without violating the set moral and legal rules are still within the expected ethical threshold. Evidently, Friedman’s notion regarding CSR does not address the needs of other stakeholders such as the community and this is why I do not support him. It is important to note that customers are members of the society, and as…

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