Milton Friedman’s (1970) essay on “The Social Responsibility of Business Is to I

Milton Friedman’s (1970) essay on “The Social Responsibility of Business Is to Increase Its Profits” has long been cited by managers, politicians, and business scholars alike to argue against various forms of social responsibilities of businesses.
(1) Engage with Friedman’s arguments by reading his famous essay and summarize his main lines of argument:
Why, according to Friedman, should the social responsibility of business be to increase its profits?
(You can find the original essay in the Library Resource Organizer Week 1 or on the Internet: https://timesmachine.nytimes.com/timesmachine/1970/09/13/223535702.html?pageNumber=379)Links to an external site.
In the 50 years since the publication, the public debate as well as our understanding of society and business has moved on. On the 50th anniversary of Friedman’s essay, in Sep. 2020, The New York Times published a piece with a series of responses to Friedman.
(2) Engage with these thoughts to collect and systematically arrange arguments:
Why might businesses have other responsibilities than increasing their profits?
(You can find the responses here: https://www.nytimes.com/2020/09/11/business/dealbook/milton-friedman-doctrine-social-responsibility-of-business.html)Links to an external site.
Make use of supplemental material as well as examples/cases, to demonstrate your arguments.
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