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Friedman's View A reader asks: I'd like to more clearly understand Milton Friedman's and others as necessary views on corporate social responsibility. What about worker safety?
Child labor in less-developed countries? Are issues like these to be ignored by corporations? This indeed sounds like an uncivil, potentially unpleasant society.
But dig a little deeper, think about the issues as an economist would, and we see that there is no contradiction between corporations pursuing profit and a civil and civilized society. Although it is generally the first part of the statement we remember, the second is equally important.
Friedman says a few sentences later: Take as an example pollution externalities. The firm still maximizes profits, but the profits account for the pollution costs now included in the cost of doing business.
Can self-selected private individuals decide what the social interest is? The pros and cons of such policies can be debated and voted upon, or adjudicated according to precedent and law.
An economist argues for effective means to manage externalities and other social responsibilities. It is neither efficient nor reliable to impose ill-defined social responsibilities that may be open to arbitrary interpretation by firm managers.
It is far better to establish a framework of law that will clearly and transparently induce the firm to internalize costs. Within that framework, firms should single-mindedly pursue profit maximization.
In the end I do not believe Friedman thought it inappropriate for corporations to do all they could to minimize potentially injurious externalities.
He was arguing, even if such ideas seem counterintuitive at first blush, that single-minded profit maximization allied with an appropriate framework of law would be more likely to produce social good than exhortations that firms be socially responsible.The feedback you provide will help us show you more relevant content in the future.
You learn from everybody with whom you converse. If you confine your learning to the views of those you agree with, you will limit your learnin g, so you need to listen carefully to conflicting views.
Do you agree with the view that Thomas Cromwell was the driving force in the break with Rome in the years to ?! Plan:! Para 1:Source 7 and 8 tell us that Cromwell was the driving force in the break!
Do you agree with the modernisation theorists’ assumption that development involves a process of modernisation?
Modernisation theory is an understanding and explanation of the process of transformation from the traditional or so called “underdeveloped” societies to modern societies. Free Essay: Do you agree with the view expressed in source H that the concessions made to Indian democracy by were given simply to shore up the British.
To agree with someone is to share a point of view with him/her, and to agree with an idea or proposal is to accept it and to believe that it's valid.
Example use that includes both prepositions: "He agreed with you on whether we should increase the salary.".