A Quote by Milton Friedman
There is one and only one responsibility of business: to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game.
Related Quotes
There is one and only one social responsibility of business - to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
So long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.
Speeches by businessmen on social responsibility...may gain them kudos in the short run. But it helps to strengthen the already too prevalent view that the pursuit of profits is wicked.... There is one and only one social responsibility of business-to...engage in open and free competition without deception or fraud.
A fish is free as long as it stays in the water. If it suddenly declares that it wants its freedom to fly in the air like a bird, disaster occurs. A train is free as long as it stays on the track. However, if it demands freedom to take off down a major highway, the result is destruction and devastation. We too can only experience true freedom in its fullest if we remain within the framework of freedom. Often this requires accepting responsibility and practicing discipline.
Businesses just want to increase their profits; it's up to the government to make sure they distribute enough of those profits so workers have the money to buy the goods they produce. It's no mystery - the less poverty, the more commerce. The most important investment we can make is in human resources.
On behalf of the newspaper industry I wish to announce some changes we're making to serve you better. When I say 'serve you better,'' I mean 'increase our profits.' We newspapers are very big on profits these days. We're a business, just like any other business, except that we employ English majors.
But in the past, US companies have been able to increase their profits through downsizing in the US, through colonizing other people's resources, and through the increase of globalization.
Some people would argue the other side: that the business of business is business, and companies should only be focused on profits. But in today's world, I don't think corporations can only be focused on profits, because they are inextricably linked with the communities that they serve. I do not believe you can be a leader in your industry without being a leader in your community. It's a fundamental shift in how you think about business.
I manage my business; politicians are doing their business. I can only work within their rules and regulations. I can't pick up a political fight.
We do not know what the rules of the game are; all we are allowed to do is to watch the playing. Of course, if we watch long enough, we may eventually catch on to a few of the rules. The rules of the game are what we mean by fundamental physics.
And, in fact, you can find that the lack of basic resources, material resources, contributes to unhappiness, but the increase in material resources do not increase happiness.
The One Ford plan drives the business to get PGA, Profitable Growth for All, meaning that every year we increase the profits and cash flow. So how do we do that? We serve all the markets around the world with a complete family of vehicles and use the One Ford Plan.
We are the necessary element since we expend nothing. Management can create its own capital -- the profits. Its business would grow and profits increase. Labor would prosper as well, while the price of the product would remain constant, the prosperity of industry, labor and management would continually increase. We Jews glory in the fact that the stupid goy have never realized that we are the parasites consuming an increasing portion of production while the producers are continually receiving less and less.
Organized business has assumed that greater profits would be pretty much of a cure-all, and it has to a major extent ignored the fact that the welfare of business rests upon the welfare of the consumers of a nation; that business or free enterprise will function in a democracy only so long as the democracy functions.
When you start in that [model] business the rules are imposed upon you, but when you stay in the business long enough the rules could be broken.
It's completely legitimate for a company to continue striving for growth and higher profits. But business activities have to be conducted in a sustainable manner.
Related Authors
Adam Smith Quotes
Scottish
Economist
Alan Greenspan Quotes
American
Economist
Benjamin Graham Quotes
American
Economist
Friedrich August von Hayek Quotes
Austrian
Economist
John Kenneth Galbraith Quotes
American
Economist
John Maynard Keynes Quotes
English
Economist
Joseph Stiglitz Quotes
American
Economist
Ludwig von Mises Quotes
Austrian
Economist
Muhammad Yunus Quotes
Bangladeshi
Economist
Murray Rothbard Quotes
American
Economist
Paul Craig Roberts Quotes
American
Economist
Paul Krugman Quotes
American
Economist
Richard Thaler Quotes
American
Economist
Robert Reich Quotes
American
Economist
Thomas Sowell Quotes
American
Economist
Walter E. Williams Quotes
American
Economist