Milton Friedman, The Social Responsibility of Business | Businesses, Agents, and Responsibilities

This is a video in my new Core Concepts series -- designed to provide students and lifelong learners a brief discussion focused on one main concept from a classic philosophical text and thinker.

This Core Concept video focuses on Milton Friedman, "The Social Responsibility of Business Is To Increase Its Profits". It examines his discussion of what responsibilities business managers and executives have, and towards whom.

My videos are used by students, lifelong learners, other professors, and professionals to learn more about topics, texts, and thinkers in philosophy, religious studies, literature, social-political theory, critical thinking, and communications. These include college and university classes, British A-levels preparation, and Indian civil service (IAS) examination preparation

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#Ethics #Business #Friedman

[mamacoco]

Snead Undergrad from Alabama, thank you so much, we have an essay due on this exact subject

[MultiAli]

I'm curious how Milton Friedman would argue that the government bailed out the big banks in '08. Reading his essay and understanding his core message, a company has no social responsibilities. Therefore individuals in a society don't need to help out artificial persons.

[colepriceguitar]

I think this rule Friedman espouses fundamentally makes the free market less free.

[pabilbadoespecial]

Friedmann starts with a lot of assumptions that remain unexamined such as ownership of capital. If one assumes that as the starting point then Friedman's ideas follows. Coherent but he does not examine the elephant in the room...