![]() The collapse of Enron and multiple financial scandals to the 2007-8 financial crisis tainted big business in the eyes of some. ![]() ![]() In addition, in recent years the concepts of both “open and free competition” and even “without deception or fraud” have been called into question. The rules of the game of business, the game itself, and the arena in which it is played no longer bear any resemblance to the heady days of the Cold War and rising economic competition portrayed as being solely between East and West. Nobel Prize winning economist Milton Freidman once wrote that 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." ( Capitalism and Freedom, Milton Friedman, 1962)īut in the five and a half decades since that declaration, the global economic center of gravity has shifted. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |