Milton Friedman's basic position is that the only social responsibility of business is to increase profits, so long as the company stays within the rules of law.

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The Nobel Prize-winning economist Milton Friedman wrote an article in 1970 that has since become a classic straw man that business ethics scholars outline only to then tear down. Friedman's basic position is that the only social responsibility of business is to increase profits, so long as the company stays within the rules of law.

Milton Friedman's Basic Position Is That the Only Social Responsibility