Milton Friedman and corporate responsibility

The corporation’s only responsibility is to make money and sell products so that people can be hired and paid. It is the job of the individual, not the company, to serve society through philanthropy.”

– Milton Friedman, Univ. of Chicago Professor
Winner of the Nobel Prize in Economic Sciences

In an age where information lies at our fingertips, many corporations boost their strategic communication image through corporate social responsibility (CSR). To bring to light the multifaceted nature of the conversation surrounding CSR, Friedman’s statements can serve as a backdrop for a discussion about a corporation’s choice to engage its community.

In this clip, Friedman makes his case for the roles of the individual and the corporation:

Does Friedman have it right?

What are your thoughts?

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