A Quote by Milton Friedman

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.

Milton Friedman

Quote Topics

Business Businessmen Competition Deception Engage Fraud Free Gain Helps May Only Open Profits Pursuit Responsibility Run Short Social Social Responsibility Speeches Strengthen Them Too View Wicked Without

Quote Author

Milton Friedman
American - Economist
July 31, 1912 - November 16, 2006

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.

Milton Friedman

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.

Milton Friedman

The only corporate social responsibility a company has is to maximize its profits.

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.

Milton Friedman

There is a Party of fiscal responsibility... economic responsibility... social responsibility... civic responsibility... personal responsibility... and moral responsibility. That party is the Democratic Party.

Howard Dean

Together with the social responsibility of businesses, there is also the social responsibility of consumers. Every person ought to have the awareness that 'purchasing is always a moral-and not simply an economic-act.

Pope Francis

Our age gives the more receptive among the young such a sense of social responsibility that one is inclined at times to fear that social interests may encroach upon individual development, that a knowledge of all the ills affecting the community may act as too powerful a damper on the joys of youth.

Ellen Key

There is only one social responsibility of business

Milton Friedman

In the early 1970s, Milton Friedman argued that corporations should not be socially responsible because they had no mandate to be; they existed to make money, not to be charitable institutions. But in the economy of the 21st century, corporations cannot be socially responsible, if social responsibility is understood to mean sacrificing profits for the sake of some perceived social good. That's because competition has become so much more intense.

Robert Reich

Social justice is collectivism. Social justice is the rights of a group. It denies individual responsibility. It's a negation of individual responsibility, so social justice is totally contrary to the Word of God.

Ted Cruz

We need government and business to work together for the benefit of everyone. It should no longer be just about typical "corporate social responsibility" where the "responsibility" bit is usually the realm of a small team buried in a basement office - now it should be about every single person in a business taking responsibility to make a difference in everything they do, at work and in their personal lives.

Richard Branson

There is a social responsibility to take care of vulnerable people. It seems that a sensible social responsibility is obligatory education, but also decent education, and that is not happening.

Noam Chomsky

If kids can have some sort of social responsibility, that's cool. But if they're not actually having social responsibility, and they're kind of hiding behind it, that's kind of useless, or even worse.

Diplo

If an artist is driven primarily by social responsibility, I think the art probably suffers because, again, just as leadership has a rather defined end point or purpose, social responsibility would seem to have a very clear moral context.

Billy Collins

I think you have a social responsibility as the villain, which is pretty different from the hero's responsibility. If you have any kind of a social or political conscience at all, the first thing you want to do is make malevolence recognizable to people, almost as a kind of teaching aid.