How to Win the Argument with Milton Friedman

In 1970, in his famous essay, The Social Responsibility of Business is to Increase its ProfitsMilton Friedman railed against any corporate attempt to promote “desirable social ends” which he argued were “highly subversive to the capitalist system.”

Ever since, folks who have gotten together in gatherings like last week’s Inclusive Capitalism Conference have argued that Friedman is wrong to make the trade-off between shareholders and the rest of society so wholly in favor of shareholders and that greater balance is required in that trade-off.

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