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Milton Friedman and Firm's Social Responsibility

Milton Friedman has the reputation of being both brusque and bright. Suppose, as part of a national program for college students on the topic of the social responsibility of business firms, he agreed to listen to you for 5 minutes. What would you say?

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Mr. Friedman:
Thoughts have evolved and many corporations believe that they have a responsibility to society. This may be in the form of environmental concerns, charity, or political correctness. This is in opposition to your viewpoint, in which you state "a corporate executive is an employee of the owners of the business" (http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html) and as such the corporate executive's responsibility is to his employers. You have stated that typically this means to make as "much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in law and those embodied in ...

Solution Summary

This detailed solution gives suggestions of an interaction with Milton Friedman based on the social responsibility of firms. It includes examples and links.