TAILIEUCHUNG - The Social Responsibility of Business is to Increase its Profits

Unfortunately, unanimity is not always feasible. There are some respects in which conformity appears unavoidable, so I do not see how one can avoid the use of the political mechanism altogether. But the doctrine of "social responsibility" taken seriously would extend the scope of the political mechanism to every human activity. It does not differ in philosophy from the most explicitly collective doctrine. It differs only by professing to believe that collectivist ends can be attained without collectivist means. That is why, in my book Capitalism and Freedom, I have called it a "fundamentally subversive doctrine" in a free. | The Social Responsibility of Business is to Increase its Profits Milton Friedman The New York Times Magazine September 13 1970 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. The discussions of the social responsibilities of business are notable for their analytical looseness and lack of rigor. What does it mean to say that business has responsibilities Only people have responsibilities. A corporation is an artificial person and in this sense may have artificial responsibilities but business as a whole cannot be said to have responsibilities even in this vague sense. The first step toward clarity in examining the doctrine of the social responsibility of business is to ask precisely what it implies for whom. Presumably the individuals who are to be responsible are businessmen which means individual proprietors or corporate executives. Most of the discussion of social responsibility is directed at corporations so in what follows I shall mostly neglect the individual proprietors and speak of corporate executives. In a free-enterprise private-property system a corporate executive is an employee of the .

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• Economic Efficiency
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