What does fundamentally subversive mean?

Said the social responsibility of business is a “fundamentally subversive doctrine” and that the one social responsibility of business is “to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game…” Milton Friedman. You just studied 4 terms!

Is corporate social responsibility a fundamentally subversive doctrine Why or why not?

It does not differ in philosophy from the most explicitly collectivist doctrine. It differs only by professing to believe that collectivist ends can be attained without collectivist means. “Social responsibility” is a fundamentally subversive doctrine in a free society.

What is Milton Friedman’s argument that the only social responsibility a corporation has is to increase its profits?

Friedman introduced the theory in a 1970 essay for The New York Times titled “A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits”. In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders.

What is Friedman’s argument?

The Friedman Doctrine holds that decisions concerning social responsibility rest on the shoulders of the shareholders, not the executives of the company. He argues that an entity is not obligated to any social responsibilities unless the shareholders decide to such an effect.

What does the Friedman doctrine of social responsibility mean?

Or that, at the expense of corporate profits, he is to hire “hard core” unemployed instead of better qualified available workmen to contribute to the social objective of reducing poverty. In each of these cases, the corporate executive would be spending someone else’s money for a general social interest.

What are the two levels of the Friedman doctrine?

A Friedman business doctrine and deciding how the tax proceeds shall be spent, on the other. This process raises political ques tions on two levels: principle and consequences. On the level of polit ical principle, the imposition of taxes and the expenditure of tax proceeds are governmental functions.

What is the legacy of Milton Friedman’s free market manifesto?

Friedman’s flawed answer is not his legacy. His legacy is the question itself — which today’s leaders must answer with a renewed commitment to balancing moral purpose and high performance. ‘In a free-enterprise, private-property system, a corporate executive is an employee of the owners of the business.

What did Milton Friedman GeT RiGhT and wrong?

Milton Friedman’s libertarian economics influenced presidents and inspired “greed is good.” So what did Friedman get right — and wrong? Today’s business leaders and economists weigh in. Credit… Photo illustration by Cristiana Couceiro. Source images: Glasshouse Images/Alamy.