In the 50 years since he wrote that article business women and men have challenged this narrative in ways that have snowballed into new movements ranging from conscious capitalism to benefit corporations to impact investing and everything in between.Īt Access Ventures, we operate using a one-pocket mindset. Is that really all it’s about though? Does it have to be so black and white? What if he was wrong? He argues that it is hard for “good” people to do “good.” In this worldview doing good and doing well are diametrically opposed, profits and purpose don’t mix, and making money is the only end goal. In it he says that discussions that “business is not concerned ‘merely’ with profit but also with promoting desirable ‘social ends’” are “notable for their analytical looseness and lack of rigor.
The Social Responsibility of Business is to Increase Its Profits, a doctrine written by Milton Friedman, was published in the New York Times in 1970.
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