Wednesday, April 20, 2011

This morning's quote

"The view has been gaining widespread acceptance that corporate officials... have a 'social responsibility' that goes beyond the interest of their stockholders... This view shows a fundamental misconception of the character to use its resources and to engage in activities designed to increase its profits so long as it stays within the rules of the game... Few trends could so thoroughly undermine the very foundation of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible." 1976 Nobel Prize winning Economist Milton Friedman in his 1962 book Capitalism and Freedom