Final project Essay Example | Topics and Well Written Essays - 1000 words - 3

Final project - Essay Example The first part of the paper discusses in detail the views of the author towards his philosophy. The second part of the paper will present a counter argument of Friedman’s philosophy. In a free market economy, businesses should utilise the existing market forces to generate as much profits as they can from their operations. Friedman argues that â€Å"The businessmen believe that they are defending free en ­terprise when they declaim that business is not concerned "merely" with profit but also with promoting desirable "social" ends; that business has a "social conscience" and takes seriously its responsibilities for providing em ­ployment, eliminating discrimination†¦Ã¢â‚¬  He goes on to state that only people have responsibilities not a corporation which is an artificial person. In other words, a corporate has artificial responsibilities which means that business as a whole cannot be said to have any responsibilities. The main argument here is that corporate leaders have a responsibility to their employers and that responsibility is to make as much money as possible from the operations of business. The manager of such corporate is an agent of the peopl e who own the business and he has a responsibility to them not the society. As an individual, the manager of the corporate can have responsibilities such as assisting the need but he should do it from his own money not the company’s. Spending other people’s money according to Friedman is not the responsibility of the leader who should serve the best interests of the owners of business. In other words, the executive is just an agent acting on behalf of his principal. According to the author of the above mentioned article, it becomes a political principle to make expenditures to foster social objectives. Friedman argues that there are people who are elected into office to serve that purpose