Which of the following is an argument put forth by economist Milton Friedman?
A) A law represents the minimal moral standards of society, so an individual should never take any action that violates the law.
B) It is unethical for companies to take any action that is not in an organization's long-term self-interest.
C) It is socially irresponsible for companies to divert time, money, and attention from maximizing profits to social causes and charitable organizations.
D) An individual's ethical decision is based on his or her level of moral development.

Question

Quizplus · Accepted Answer

Milton Friedman was a proponent of the idea that the primary responsibility of businesses is to maximize profits for their shareholders. He argued that diverting resources towards social causes or charitable organizations is not the responsibility of businesses and is socially irresponsible. This argument is reflected in option C.

Which of the Following Is an Argument Put Forth by Economist