Milton Friedman is rumored to have said “The business of business is business.” Why would a free-market economist have made such a statement? Does such a philosophy have implications for business ethics? Milton Friedman was famously known for his quote that, ‘the business of business is business’. This quote calls upon every person involved in business, from business owners to employees to assume an important role in the workings of business. This implies that one should focus more on his or her business’ most important aspects. Apparently, the most important business activity is cash flow. This is the money ...
Essays on Social Responsibility
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