In 1962, Milton Friedman said “There is one and only one social responsibility of business–to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”
There has been heated debate over this quote since the Business Roundtable pivoted to “stakeholder capitalism” in its August 2019 revised “Statement on the Purpose of a Corporation.”
