Milton Friedman's Point Of View On Business Ethics

Business ethics could define as the practices of corporation and firms regarding their responsibility and their way to behave as the same as the principles that can applied to individuals’ behavior towards society. The topic sparks flame of conflict between economists Milton Friedman who stands against the topic while on the other side Colin Grant responds to the arguments of Friedman and supports the necessity of ethic in corporations. Friedman’s point of view of business could described as machinery of making money without considering society, but Colin’s point of view is that business is not isolated from society and it is a part of it. Both of the articles show three major points of discussion social responsibility, political interferes and the free-market. Friedman criticizes some of the executives’ speeches about business responsibility, which reflects a wrong image about business and corporations. According to Friedman the corporation is being treated as a person but the corporations is not a real person it can be described as a

People choose their governments and they should operate the economy and practice its power to maintain a stable growth of business and balance the income between poor and rich. In conclusion, Friedman fights for the concepts of the soulless capitalism and shows that the benefit of the people is increasing the profits. In contrast, Colin disagrees with Friedman and argues that the arguments of Friedman do not reflect the reality how corporations act and their independence of the society is a huge logical mistake Friedman presents. Business ethics is a window dressing by corporations to advertise their brands and attract people to buy their products; a corporation can act ethically just to hide its real intentions of maximizing