However, a corporate executive, according to Friedman, would have to spend other people's money for a general social interest, by means of reducing returns to stockholders, lowering worker wages, or raising the price of products. However, herein lies the basic flaw of this author's reasoning, for the social responsibility of the business as it falls on the executive is to make sacrifices for the benefit of others. In a position of such power,...

While this author may argue that the only responsibility of the business is to make profits using all available resources, engaging in open and free competition without fraudulent activity, a business is a controllable extension of those who own and run it, and just as we have individual responsibilities towards our society and other people, the business personified must also recognize this responsibility. Being socially responsible does not have to cost a business money at all, especially since many consumers will choose to pay more for a socially responsible product or service to make up for any cost that simply cannot come out of the personal profit of…