Friedman and the social responsibility of corporation

Business & Finance, Business Reference, Business Ethics
Cover of the book Friedman and the social responsibility of corporation by Minh Vu, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Minh Vu ISBN: 9783640706396
Publisher: GRIN Verlag Publication: September 16, 2010
Imprint: GRIN Verlag Language: German
Author: Minh Vu
ISBN: 9783640706396
Publisher: GRIN Verlag
Publication: September 16, 2010
Imprint: GRIN Verlag
Language: German

Essay aus dem Jahr 2010 im Fachbereich BWL - Unternehmensethik, Wirtschaftsethik, Note: 1,6, Grenoble Ecole de Management, Sprache: Deutsch, Abstract: The Nobel Prize winner Milton Friedman was praised by The Economist (2006) as 'the most influential economist of the second half of the 20th century...possibly of all of it'. In 1970, he published an essay on the social responsibility of business in the New York Times Magazine. In his article, he explains in complex detail about the notion of 'social responsibility' of businessmen within a corporate environment and their goal to increase profits. Indeed, at first glance, this quote seems to capture the mentality of many of the actors in the financial sector in our era. Banks and financial institutions are accused of acting unethically and only in their self-interest to increase profits along with brokers and investment bankers who are accused of primarily aiming high incentives and bonuses by selling unconscionably high-default assets. Scholars argued that corporate governance failings and lack of ethical behaviour were significant causes of the financial crisis of autumn 2008 (Skypala, 2008). This essay discusses the question whether the above statement made by famous economist Milton Friedman is still relevant in the context of business today and to what extent it is relating to the financial sector and in particular to the financial crisis of autumn 2008.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Essay aus dem Jahr 2010 im Fachbereich BWL - Unternehmensethik, Wirtschaftsethik, Note: 1,6, Grenoble Ecole de Management, Sprache: Deutsch, Abstract: The Nobel Prize winner Milton Friedman was praised by The Economist (2006) as 'the most influential economist of the second half of the 20th century...possibly of all of it'. In 1970, he published an essay on the social responsibility of business in the New York Times Magazine. In his article, he explains in complex detail about the notion of 'social responsibility' of businessmen within a corporate environment and their goal to increase profits. Indeed, at first glance, this quote seems to capture the mentality of many of the actors in the financial sector in our era. Banks and financial institutions are accused of acting unethically and only in their self-interest to increase profits along with brokers and investment bankers who are accused of primarily aiming high incentives and bonuses by selling unconscionably high-default assets. Scholars argued that corporate governance failings and lack of ethical behaviour were significant causes of the financial crisis of autumn 2008 (Skypala, 2008). This essay discusses the question whether the above statement made by famous economist Milton Friedman is still relevant in the context of business today and to what extent it is relating to the financial sector and in particular to the financial crisis of autumn 2008.

More books from GRIN Verlag

Cover of the book Betriebliche Gesundheitsförderung. Antonovskys Theorie der 'Salutogenese' by Minh Vu
Cover of the book Auswirkungen einer Abkehr von der Going-Concern-Prämisse auf den handelsrechtlichen Jahresabschluss by Minh Vu
Cover of the book Der Religionsunterricht ist in den öffentlichen Schulen mit Ausnahme der bekenntnisfreien Schulen ordentliches Lehrfach by Minh Vu
Cover of the book Die Einheit des Judentums in der Sicht Leo Baecks by Minh Vu
Cover of the book Orientierung im Internet - eine Funktionsanalyse by Minh Vu
Cover of the book Veränderungen des Selbst- und Demokratieverständnisses durch den Klimawandel by Minh Vu
Cover of the book Menschen mit selbstverletzendem Verhalten und die sozialpädagogischen Interventionen im Vergleich zur psychosomatischen Behandlung by Minh Vu
Cover of the book Möglichkeiten und Grenzen der Telearbeit by Minh Vu
Cover of the book Controllingfragen im Dienstleistungsunternehmen by Minh Vu
Cover of the book BIM Kongress 2014. Tagungsband by Minh Vu
Cover of the book Customer Relationship unter datenschutzrechtlichen Gesichtspunkten by Minh Vu
Cover of the book Lukians Rede 'de domo' und der Agon zwischen den Künsten by Minh Vu
Cover of the book Insolvenzrecht und Möglichkeiten der Unternehmenssanierung by Minh Vu
Cover of the book Das Frauenbild in der Jugendliteratur der DDR by Minh Vu
Cover of the book Die Rolle der Arbeitswertlehre, des Marx'schen Wertbegriffs und der Methodik der logischen Deduktion, Abstraktion und Dialektik für Marx' 'Kritik der politischen Ökonomie' by Minh Vu
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy