Biography
Milton Friedman argued that a business's only social responsibility is to maximise profit for shareholders within the law — CSR beyond this misuses owners' money.
Key Ideas
- Shareholder (stockholder) view.
- Profit as the firm's sole responsibility.
Topics Appearing In
Key Quotes
“The social responsibility of business is to increase its profits.”Milton Friedman
Exam Importance
The key anti-CSR position in Business Ethics, opposed by stakeholder theory.