friedmanesque

I read an interesting editorial in Portfolio yest.
Yeah, I buy Conde Nast. So sue me.

Anyway, the Viewpoint /brief written by tunku varadarajan deals with corporate social responsibility, specifically the Beijing Olympic's corporate sponsors'. Should they question China's human rights record?

TV writes that for Milton Friedman, the sole social responsibility of a business is to increase its profit. Execs are responsible to stockholders alone. Doing anything that would result in a decrease in profits, like say provoking the chinese into cancelling a contract by protesting, is irresponsible.

However, in our evolved new century, the concept of stakeholders has widened. Varadarajan provides some keen insights on this. Fr example