Which of the following according to Milton Friedman, is the only social responsibility of business?
A)To support local communities
B)To improve the standard of living of employees
C)To be fair to employees
D)To increase profits

Question

Quizplus · Accepted Answer

Milton Friedman, a prominent economist, argued that the only social responsibility of business is to increase its profits, within the bounds of the law. He believed that businesses should focus on generating profit for their shareholders, and that this focus would lead to the most efficient allocation of resources in society.

Which of the Following According to Milton Friedman, Is the Only