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Homework answers / question archive / The noted economist Milton Friedman once said (paraphrased), about 50 years ago, that "the social responsibility of business is to make a profit, period

The noted economist Milton Friedman once said (paraphrased), about 50 years ago, that "the social responsibility of business is to make a profit, period

Business

The noted economist Milton Friedman once said (paraphrased), about 50 years ago, that "the social responsibility of business is to make a profit, period." Given this quote, state the reasons why and why not businesses should make investments in social responsibility. Identify and define the specific activities of business that represent social responsibility (and on which they are rated). Do you see Apple Computer (or Nike or Wal-Mart) as socially responsible multi-national companies—why and/or why not?

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