Milton Friedman

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The often-cited economist, Milton Friedman (1962), argued that “few trends could so thoroughly undermine the very foundation of our free society as the acceptance by corporate officials of social responsibility other than to make as much money for their stockholders as possible” (pp. 133-134). Friedman’s influence has been far-reaching in the fields of business and economics.  This is important to understand in terms of the evolution of CSR. Taking this into account address the following: Formulate two convincing arguments—one in support of Friedman’s assertion and one against it. Research two organizations—one that exemplifies Friedman’s exhortation for companies to focus only on stockholder wealth, and one that believes CSR is an integral part of an organization’s competitive advantage and success. Compare and contrast the two organizations. Provide three examples of organizations that show how Friedman’s admonition above, if taken literally, could be used to legitimize otherwise unethical behavior. Your well-written paper must adhere to the following parameters: 4-5 pages in length, not including the title and reference pages. Cite six references, with at least four scholarly references. Remember, you must support your claims and/or assertions and prior knowledge with references. All facts must be supported, and all in-text references used throughout the assignment must be included in an APA-formatted reference list.