Due in 12 hrs!!!!! NO PLAGIARISM!!!!A synthesis helps individuals to identify and understand the main points of each selected source and how they relate to each other. Please analyze and contrast the

• Published: August 1986

A critique of Milton Friedman's essay ‘the social responsibility of business is to increase its profits’

• Thomas Mulligan 

Journal of Business Ethics volume 5, pages265–269(1986)Cite this article

• 5107 Accesses

• 38 Citations

• 8 Altmetric

• Metricsdetails

Abstract

The main arguments of Milton Friedman's famous and influential essay are unsuccessful: He fails to prove that the exercise of social responsibility in business is by nature an unfair and socialist practice.

Much of Friedman's case is based on a questionable paradigm; a key premise is false; and logical cogency is sometimes missing.

The author proposes a different paradigm for socially responsible action in business and argues that a commitment to social responsibility can be an integral element in strategic and operational business management without producing any of the objectionable results claimed by Friedman.

This is a preview of subscription content, log in to check access.

Author information

Affiliations

1. The Fuqua School of Business, Duke University, 27706, Durham, NC, U.S.A.

Thomas Mulligan

Additional information

Thomas Mulligan is an Assistant Professor at The Fuqua School of Business, Duke University, in the areas of Manufacturing Management Systems and Business Ethics. He has a Ph.D. from Northwestern University in the field of Philosophy and has worked as an educator, manager, and consultant in the manufacturing and software industries.

Rights and permissions

Reprints and Permissions

About this article

Cite this article

Mulligan, T. A critique of Milton Friedman's essay ‘the social responsibility of business is to increase its profits’. J Bus Ethics 5, 265–269 (1986). https://doi.org/10.1007/BF00383091

Download citation

• Issue DateAugust 1986