Milton Friedman 's Corporate Social Responsibility Essay

1302 Words Feb 16th, 2016 null Page
While humans may spend a relatively short amount of time here on earth, most of us strive to achieve some measure of good that will long outlast our physical presence. Many people measure their own worth and value to society based on the positive impact they have made on others, which is very admirable. While it would be difficult to find somebody that argues this is a poor way to lead your life, in the past corporations have had difficulty identifying with this train of thought. Corporate social responsibility is a relatively new term that attempts to hold corporations responsible for the actions they take on a regular basis, although it has worked to varying degrees with different companies. While progress may not be exactly where we want it, a vast majority of companies have taken significant steps in showing that they care about more than just turning a profit in the upcoming quarter. A famous quote that has a lot to do with this idea of corporate social responsibility is Milton Friedman 's saying, "The business of business is business." What this quote means is actually quite the opposite of CSR, in that it implies that corporations exist solely to do business and what is best for their shareholders. When taking a look in to Friedman 's life the concept does not come as much of a surprise, as a free-market economist Friedman believed that government and other outside parties should not be allowed to interfere with the natural flow of the market. Free-market economists…

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