What is the social responsibility of business according to Milton Friedman?
A)Protecting interests of the environment
B)Protecting interests of all stakeholders
C)Protecting interest to increase profits
D)Protecting interests of shareholders

Question

Quizplus · Accepted Answer

According to Milton Friedman, the social responsibility of business is to protect the interest to increase profits. He believed that the only responsibility of a business is to maximize profits within the legal and ethical boundaries, and any other social responsibility is the responsibility of the individuals and government, not the business. Therefore, protecting the interests of shareholders is the best choice.

What Is the Social Responsibility of Business According to Milton