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What is the social responsibility of business? In 1970 Milton Friedman claimed that the only social responsibility of business was to increase profits.

May 26, 2024

What is the social responsibility of business?

In 1970 Milton Friedman claimed that the only social responsibility of business was to increase profits. Compare and contrast the evidence presented by Friedman with that provided in the IPCC Fifth Assessment Report summary videos. In light of the available evidence, discuss whether you believe Friedman’s claim is valid.

Reading to use

Dyer, L. (2006). Critical Thinking for Business Students. Captus Press. (Chapter 3: Evidence)

Friedman, M. (1970, September 13). The social responsibility of business is to increase its profits. New York Times,

Posner, E. (2019: August 22). Milton Friedman Was Wrong. The Atlantic.

Business & Finance

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What is the social responsibility of business? In 1970 Milton Friedman claimed that the only social responsibility of business was to increase profits.

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