Asked by Diana Olvera on Jun 23, 2024
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According to Milton Friedman, the social obligation of a corporation is to return as much money as possible to its shareholders.
Milton Friedman
An American economist known for his strong belief in free-market capitalism and for being a leading proponent of the efficiency of markets and the reduction of government intervention.
Social Obligation
The responsibility or duty of an individual or organization to act in the best interests of society at large, often beyond legal requirements.
Shareholders
Individuals or entities that own one or more shares of stock in a corporation, thus having a financial interest in the company's performance.
- Identify the moral obligations that companies have toward parties aside from their stockholders.
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Learning Objectives
- Identify the moral obligations that companies have toward parties aside from their stockholders.
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