Philosophy
In light of yesterday's post, let's play Bullshit or Not.
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that I've stolen it for an irregular series of posts.
Today's extended quotation comes from a famous piece from the New York Times Magazine in 1970 by Milton Friedman entitled "The Social Responsibility of Business Is To Increase Its Profits."
Bullshit or not? As usual, feel free to leave anything from a single word response to a dissertation.
- Bullshit Or Not: Einstein Edition
On the eve of his birthday, let's play Bullshit or Not. There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit...
- Bullshit Or Not: Beethoven Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, In Search Of... called, Bullshit or Not? with the tagline "Bullshit or not? You decide." It's a line I like so much that...
- Bullshit Or Not: Descartes Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that...
- Bullshit Or Not? Robert Frost Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that...
- Bullshit Or Not?: Benjamin Franklin Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that...
Philosophy
Bullshit or Not: Milton Friedman Edition
In light of yesterday's post, let's play Bullshit or Not.
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that I've stolen it for an irregular series of posts.
Today's extended quotation comes from a famous piece from the New York Times Magazine in 1970 by Milton Friedman entitled "The Social Responsibility of Business Is To Increase Its Profits."
When I hear businessmen speak eloquently about the "social responsibilities of business in a free-enterprise system," I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life. The businessmen believe that they are defending free enterprise when they declaim that business is not concerned "merely" with profit but also with promoting desirable "social" ends; that business has a "social conscience" and takes seriously its responsibilities for providing employment, eliminating discrimination, avoiding pollution and whatever else may be the catchwords of the contemporary crop of reformers. In fact they are?or would be if they or anyone else took them seriously?preaching pure and unadulterated socialism. Businessmen who talk this way are unwitting puppets of the intellectual forces that have been undermining the basis of a free society these past decades.So, is there any legitimate basis for corporate responsibility beyond increasing share holder earnings?
The discussions of the "social responsibilities of business" are notable for their analytical looseness and lack of rigor. What does it mean to say that "business" has responsibilities? Only people can have responsibilities. A corporation is an artificial person and in this sense may have artificial responsibilities, but "business" as a whole cannot be said to have responsibilities, even in this vague sense. The first step toward clarity in examining the doctrine of the social responsibility of business is to ask precisely what it implies for whom.
Presumably, the individuals who are to be responsible are businessmen, which means individual proprietors or corporate executives. Most of the discussion of social responsibility is directed at corporations, so in what follows I shall mostly neglect the individual proprietors and speak of corporate executives.
In a free-enterprise, private-property system, a corporate executive is an employee of the owners of the business. He has direct responsibility to his employers. That responsibility is to conduct the business in accordance with their desires, which generally will be to make as much money as possible while conforming to the basic rules of the society, both those embodied in law and those embodied in ethical custom. Of course, in some cases his employers may have a different objective. A group of persons might establish a corporation for an eleemosynary purpose?for example, a hospital or a school. The manager of such a corporation will not have money profit as his objective but the rendering of certain services.
In either case, the key point is that, in his capacity as a corporate executive, the manager is the agent of the individuals who own the corporation or establish the eleemosynary institution, and his primary responsibility is to them...
[T]he doctrine of "social responsibility" taken seriously would extend the scope of the political mechanism to every human activity. It does not differ in philosophy from the most explicitly collectivist doctrine. It differs only by professing to believe that collectivist ends can be attained without collectivist means. That is why, in my book Capitalism and Freedom, I have called it a "fundamentally subversive doctrine" in a free society, and have said that in such a society, "there is one and only one social responsibility of business?to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."
Bullshit or not? As usual, feel free to leave anything from a single word response to a dissertation.
- Bullshit Or Not: Einstein Edition
On the eve of his birthday, let's play Bullshit or Not. There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit...
- Bullshit Or Not: Beethoven Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, In Search Of... called, Bullshit or Not? with the tagline "Bullshit or not? You decide." It's a line I like so much that...
- Bullshit Or Not: Descartes Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that...
- Bullshit Or Not? Robert Frost Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that...
- Bullshit Or Not?: Benjamin Franklin Edition
There's an old sketch film called Amazon Women on the Moon and one of the bits is a parody of the old Leonard Nimoy show, "In Search Of..." called, "Bullshit or Not?" with the tagline "Bullshit or not? You decide." It's a line I like so much that...