Businessmen who say that business is not concerned merely with profit but also with promoting desirable social

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Businessmen who say that business is not concerned “merely” with profit but also with promoting desirable “social” ends, such as providing employment, eliminating discrimination, avoiding pollution and whatever else may be the catchwords of the contemporary crop of reformers[, are] preaching pure and unadulterated socialism as unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades. . . . A corporate executive is an employee of the owners of the business. His or her responsibility is to conduct the business in accordance with the owners’ desires, which generally will be to make as much money as possible while conforming to the basic rules of the society. . . . 


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How do you think Prof. Friedman would have responded to the following statement by a critic of Western capitalism: “The great corporations of the world must take dramatic action immediately to mitigate climate change?” Explain.

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Law Business And Society

ISBN: 9781260247794

13th Edition

Authors: Tony McAdams, Kiren Dosanjh Zucker, Kristofer Neslund, Kari Smoker

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