famous essay
written half a century ago: “In a free society … there is one and only one social 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, which is to say, engages in open and free competition without deception or fraud.” responsibility? The same essay gives some clues to Friedman’s thinking.
, defined as conformity with healthy market rules of the game. That means companies have a responsibility to compete based on the price and quality of their own products, rather than by tweaking laws and regulations in ways that disadvantage competitors. And their political participation must not subvert that responsibility to healthy competition.
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