David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
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Journal of Business Ethics 13 (12):969 - 978 (1994)
Milton Friedman has argued that corporations have no responsibility to society beyond that of obeying the law and maximizing profits for shareholders. Individuals may have social responsibilities according to Friedman, but not corporations.When executives make contributions to address social problems in the name of the corporation, they are doing so with other people''s (shareholders'') money. The responsibility of corporate executives is a fiduciary one, to serve as an agent for the corporation''s shareholders, and to uphold shareholders'' trust, which requires executives to maximize the return to their shareholders, who can then, if they choose, contribute their own money to worthy causes.
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Citations of this work BETA
Tomi J. Kallio (2007). Taboos in Corporate Social Responsibility Discourse. Journal of Business Ethics 74 (2):165 - 175.
Jim Wishloff (2009). The Land of Realism and the Shipwreck of Idea-Ism: Thomas Aquinas and Milton Friedman on the Social Responsibilities of Business. [REVIEW] Journal of Business Ethics 85 (2):137 - 155.
Ronald Paul Hill & Deby Lee Cassill (2004). The Naturological View of the Corporation and Its Social Responsibility: An Extension of the Frederick Model of Corporation–Community Relationships. Business and Society Review 109 (3):281-296.
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