Critique of Milton Friedman 1970's article on "Social Responsibility"

Milton Friedman (1970) famously wrote an article entitled; Friedman, M. (1970), "The social responsibility of business is to increase its profits", New York Times Magazine, September 13. Available at http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html This article was written more than 40 years ago, but still holds true even now in the 21st century business world. The main objective of a business should always be to maximize the total shareholder value of the firm. The total value of the firm is...

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