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Social responsibility of business

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Milton Friedman has once popularly said, "The social responsibility of business is to increase its profits; here is one and only one social responsibility of business to use its resources and engage in activities designed to increase its profits so long as it stays in the rules of the game, which is to say, engages in open and free competition, without deception or fraud."

Do you agree or disagree with Friedman's arguments? Please provide your thoughts and analysis by considering the goals of financial management that we have covered.

Reference no: EM133068963

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