Posted by mz
on March 16, 2009, 3:43 am, in reply to "...FRIEDMAN ON MORALITY..."
128.54.163.43
O_O Why all caps? It's hard to read.
A big part of Friedman's morality is the CEO and the shareholder's agent-principal relationship. To be moral, the CEO needs to do whatever the shareholders tell him to do.
The morality of a company is to maximize profit, because by doing so, it maximizes social welfare by providing products that the people want. It can't maximize social welfare if it doesn't maximize profit.
His morals aren't necessary ethical morals.
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