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Friedman’s “The Social Responsibility of Business is to Increase its Profits”: A Critique for the Classroom

Milton Friedman’s 1970 article “The Social Responsibility of Business Is to Increase Its Profits” is likely one of the most assigned, and most debated, papers in social issues pedagogy. Written 35 years ago, it was not an academic paper (published in the New York Times Magazine). However, academics (especially in the field of Business & Society) have been responding to it, in print and in the classroom, since its publication (for examples, see DesJardins and McCall, 1990; Mulligan, 1986).