The Social Responsibility of Business is to Increase its Profits

Author: Milton Friedman

Source: University of Boulder Colorado website

The New York Times Magazine, September 13, 1970. Copyright @ 1970 by The New York Times Company.

When I hear businessmen speak eloquently about the "social responsibilities of business in a free-enterprise system," I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life. The businessmen believe that they are defending free enterprise when they declaim that business is not concerned "merely" with profit but also with promoting desirable "social" ends; that business has a "social conscience" and takes seriously its responsibilities for providing employment, eliminating discrimination, avoiding pollution and whatever else may be the catchwords of the contemporary crop of reformers. In fact they are–or would be if they or anyone else took them seriously–preaching pure and unadulterated socialism. Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades.

You may read the rest of this article at the source.

Serbo-croatian version of this article is available here.

Comments

Post new comment

The content of this field is kept private and will not be shown publicly.
To prevent automated spam submissions leave this field empty.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.