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?
Internet: please see article 1 attached
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: Second Article please see attachemnt
Make use of supplemental material as well as examples/cases, to demonstrate your arguments.
Submission Guidelines
Maximum = 2 pages. References are not counted in this page limit.
Single-spaced within paragraphs and double-spaced between paragraphs.
No less than 1-inch margins and 12-point font (enforced).
Cite your relevant sources in APA citation and referencing format (this refers only to the citations/references, not the paper writing style)
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