Milton Friedman's "Traditional View of Business Responsibility" and Archie Carroll's "Four Responsibilities of Business"
Milton Friedman and Archie Carroll share opposite views of the responsibilities of business firms to society.
Milton Friedman does not believe in the concept of social responsibility and thus argues against it. According to Alessandro (2013), Milton Friedman's traditional view of business responsibility is that social responsibilities affect the long-term efficiency of a business negatively. His famous and much quoted adage was that "the business of business is business". According to him, a business person who acts "responsibly" by cutting the price of the firm's product to prevent inflation, or by making expenditures to reduce pollution, or by hiring the hard-core unemployed, is spending the ...
The solution discusses comparing views on business responsibility.