Milton Friedman s The Social Responsibility Of Business

Prior to this class, I would’ve viewed the purpose of a business to be exactly as Milton Friedman describes in his article â€Å"The Social Responsibility of Business is to Increase its Profits.† In this article, he claims that corporate executives have responsibility to their employers, those employers being shareholders whose monetary contribution gives them capital to work with so they can expand the business, and the only way they will fulfill that duty is to make them as much money as possible. Businesses do not have a duty to provide any sort of contribution, monetary or time, to foundations that assist the less fortunate. Either of these contributions effects the profits the company can generate for their shareholders, and since it is not the executives’ money to work with, they should not be using it for things that the shareholders did not intend their money to be used for. As individual businessmen, acting as a sole entity not as an arm of the corporati on, it is perfectly fine to engage with the community and make contributions to the betterment of the community because you’re using your own time and money, not the company’s. In certain cases, this argument makes a lot of sense. Businesses are not always the best equipped to make decisions for the improvement of the less fortunate, as seen by the example of Tom’s Shoes. Sure they donate a pair of shoes to communities where people don’t have them, but shoes are not the most necessary item for the citizens in thatShow MoreRelatedCorporate Social Responsibility : Milton Friedman1083 Words   |  5 PagesAbstract Milton Friedman, a well-known, Nobel Prize recipient, and economist, who preached against corporate social responsibility as a goal to American businessman. His concepts, and arguments, has been their foundation for fiscal success thereby generating end-profit for shareholders. However, over the past 40-years, financiers have realized not only do they owe earnest to their shareholders but also their customers. The government and society have both found roles to play in the future of bigRead MoreMilton Friedmans The Free Market Theory1312 Words   |  6 PagesMilton Friedman bases his opinion on businesses and profit maximization on the foundation of free enterprise. â€Å"The free market theory believes that business managers have only one primary responsibility, which is to maximize profit; also, the theory tells that government should not involve in economic matters, except to prevent fraud and coercion† (p. 7) Mr. Friedman argues that a corporation, unlike a person, cannot have responsibility. I disagree with this notion. I don’t think that anyone wouldRead MoreCorporate Social Responsibility Definition1011 Words   |  5 PagesThis research study is about what the Corporate Social Responsibility (CSR) is, how people define and how I understand this term? According to my research and observations, CSR does not have only one and constant definition. I have read a lot of definitions of CSR and in fact, they are similar but not the same. Briefly, definition and understanding of CSR depends on person to person. Thus, I am going to talk about definitions of the CSR and I will define my own perspective about the CSR. Read MoreDo you agree with Milton Friedman’s (1970) claim that :  « the only responsibility of business is to increase its profits  » ?2913 Words   |  12 Pagesï » ¿Do you agree with Milton Friedman’s (1970) claim that  :  «Ã‚  the only responsibility of business is to increase its profits  Ã‚ »Ã‚  ? Milton Friedman was an American economist, statistician and writer, who had a massive impact on the research agenda of the economics profession. His famous words â€Å"the only responsibility of business is to increase its profits† (Friedman, Milton. 1970) led to many controversial debates on whether businesses should have ethics or if profit should be their main  goal. CorporateRead MoreEssay on Social Responsibility1055 Words   |  5 Pagesprofit; however, social responsibility looks outside of profits and determines the effects on all stakeholders including customers, environment, and society. In addition, the strategic decision should also be based on the code of ethics set forth by the organization. Furthermore, when determining the development of a strategic plan, the organization may either use the views of Milton Friedman or Archie Carroll (Wheelen, 2010). Two Views of Social Responsibility Milton Friedman and Archie CarrollRead MoreChaser Essay1713 Words   |  7 PagesPhilosophy 6: Ethical Issues in Business Midterm Essay Chase Novak Dr. Parker Need or Greed? New Protocol: How Drug’s Rebirth as Treatment for Cancer Fueled Price Rises Immanuel Kant-Kantian Deontology John Locke- The Justification of Private Property Adam Smith-Benefits of the Profit Motive Milton Friedman- The Social Responsibility of Business Is to Increase Its Profits Thesis: An examination of the case study New Protocol: How Drug’s Rebirth as Treatment for Cancer Fueled Price RisesRead MoreMilton Friedman s Philosophy, Consumption Analysis, And The Theory Of Stabilization Policy Essay1601 Words   |  7 PagesMilton Friedman was a respected economist that posited numerous new ideologies within the economic realm during the 20th century. In 1976, Friedman was awarded the Nobel Memorial Prize in Economic Sciences for his examination of monetary history and philosophy, consumption analysis, and the theory of stabilization policy. Another theme Friedman is generally known for is his position with respect to the responsibilities of corporations. He had expressed that few trends could so thoroughly undermineRead MoreThe Corporate Social Responsibilities ( Csr ) And Maintainability1483 Words   |  6 PagesPresentation Deliberating with the rules given in the inquiries, the entire task worries about the Corporate Social Responsibilities (CSR) and maintainability. As it is specified in the inquiries we ll be discussing the CSR and maintainability. The goals of each business while building up are to make the financial conditions more grounded and to last nature for future era. Performing amid its normal exercises, it is having negative effect in nature. In the event that these sorts of exercises areRead MoreMilton Friedman And The Social Responsibility Of Business Essay1237 Words   |  5 Pagesmajor arguments of Friedman and Freeman et al. on CSR A. â€Å"The Social Responsibility of Business is to Increase its Profits†, written by Milton Freeman (1970). Milton Friedman took a â€Å"Shareholder Approach† to social responsibility. This approach asserts that shareholders advance capital to a company’s managers, who are supposed to spend corporate funds only in ways that have been authorized by the shareholders. Friedman wrote: There is one and only one social responsibility of business to use its resourcesRead MoreSocial Responsibility Of Business : Milton Friedman, The Famous Nobel Prize Winning Economist805 Words   |  4 PagesIt was Milton Friedman, the famous nobel prize winning economist, who once said there is 0:12 one and only one social responsibility of business—to use its resources and engage 0:18 in activities designed to increase its profits so long as it stays within the rules of the 0:23 game. Friedman s comments characterize one of two perspectives related to business social 0:28 responsibility. On one hand we know that the primary objective of a business is the attainment 0:34 of profits. But does that mean

How to Make Magnetic Slime

Put a twist on the classic slime science project by making magnetic slime. This is slime that reacts to a strong magnetic field, like a ferrofluid, but its easier to control. Its easy to make, too. Here is what you do: Magnetic Slime Materials   white school glue (e.g., Elmers glue)liquid starchiron oxide powder  rare earth magnets Ordinary magnets are not strong enough to have much of an effect on magnetic slime. Try a stack of neodymium magnets for the best effect. Liquid starch is sold with laundry aids. Iron oxide is sold with scientific supplies and is available online. Magnetic iron oxide powder is also called powdered magnetite. Make Magnetic Slime You could simply mix the ingredients together at once, but once the slime polymerizes, it difficult to get the iron oxide to mix in evenly. The project works better if you mix the iron oxide powder with either the liquid starch or glue first. Stir 2 tablespoons of iron oxide powder into 1/4 cup of liquid starch. Continue stirring until the mixture is smooth.Add 1/4 cup of glue. You can mix the slime together with your hands or you can wear disposable gloves if you dont want to get any black iron oxide dust on your hands.You can play with magnetic slime just like you would with regular slime, plus it is attracted to magnets and is viscous enough to blow bubbles Safety and Clean Up If you wrap the magnets with plastic wrap, you can keep the slime from sticking to them.Clean up slime using warm, soapy water.Do not eat the slime, since too much iron is not good for you.Do not eat magnets. There is a recommended age listed on magnets for this reason.This project is not suitable for young children  since they might eat slime or magnets. Ferrofluid is more liquid than magnetic slime, so it forms better-defined shapes when exposed to a magnetic field, while the silly putty is stiffer than the slime and can crawl slowly toward a magnet. All of these projects work best with rare earth magnets rather than iron magnets. For a strong magnetic field, use an electromagnet, which can be made by running an electric current through a coil of wire.

The Fight Against Heroin Addiction - 2176 Words

Do you ever wake up with an overwhelming urge? It’s all you can think about, consuming every inch of your mind. The need is so strong that it makes you physically sick without it. What if the urge was so bad that you would lie or steal from friends and family just to satisfy it? Now imagine your fixation could kill you at any time, yet you continue to want and continue to use. This may not be your life, but sadly this is the daily life faced by millions of heroin and opioid addicts. The rise of heroin use in our country has reached a critical level, one that requires immediate action by our governmental figures to curtail the senseless deaths that are gripping our communities. By increasing funding for rehabilitation services and rethinking how our legal system treats drug offenders, we can hopefully begin winning the fight against heroin addiction. Heroin is derived from opium, a naturally occurring substance found in the seedpods of the Asian poppy plant. Historians were able to date references to opium as far back as 3,000 B.C. based on depictions found in Sumerian clay tablets. It was considered a sacred substance for its ability to create feelings of euphoria. Beginning in the 1800’s, pharmaceutical companies were fighting to develop new drugs based on the recently discovered ability to derive powerful chemicals from natural plants. One of the early discoveries was morphine, a purified form of the main ingredient found in opium. Heroin was then synthesized in the lateShow MoreRelatedAddiction Changes The Way The Brain Processes Information964 Words   |  4 PagesAddiction changes the way the brain processes information. To understand addiction, you first must learn its language—how addiction develops and why addicts continue to use despite the harm it inevitably causes. Addiction is a mysterious illness because it seems to make such little sense to the onlooker and even to the addict. Addicts are prone to repeating their poor choices because they do not process information correctly. All addicts have poor insight and poor judgment when using. It is partRead MoreHeroin Addiction : A Chronically Relapsing Disease1038 Words   |  5 Pages Heroin addiction is a chronically relapsing disease, usually characterized by tendencies such as drug seeking, drug abuse, tolerance and physical dependence. Substance abuse disorders have increased the levels of morbidity and mortality and with a consequent significant increase in HIV spread across the globe. Heroin increases psychiatric disorders, especially with mood anxiety, impulse control, and imbalance –related disorders. According to a survey by Maremmani et al. Annals of General PsychiatryRead MoreAgainst The Legalization Of Drugs1671 Words   |  7 PagesAgainst the Legalization of Drugs Legalization of drugs is an increasingly hot topic in today’s society. It is one of that needs vast advancements in research and treatment for addicts to prevent the moral and legal obligations, as well as the severe health ramifications that come along with addiction of these powerful drugs. To legalize drugs would be detrimental to the family unit as well as our youth and have serious health consequences at an alarming rate. James Q. Wilson, author of, â€Å"AgainstRead MoreAddiction : Addiction And Addiction985 Words   |  4 PagesAddiction is an illness that changes the way the brain processes information. To understand addiction, you first have to learn its language—how addiction develops and why addicts continue to use despite the harm it inevitably causes. Addiction is a mysterious illness because it seems to make such little sense to the onlooker and at times even to the addict. Addicts are prone to repeating their poor choices because they do not process information correctly. All addicts have poor insight and poorRead MoreDrug Abuse And Its Effects On The Increase Of The Drug Epidemic Essay945 Words   |  4 PagesHeroin abuse in America has become an overwhelming issue considering the numbers of people who abuse it today compared to just two years ago. America has become a drug culture, the marketplace of an international flow of drugs on an unprecedented scale (Biernacki, 1986). There are many foundations of this social problem; the intense availability of drugs in neighborhoods where crime is prevalent, as well as basic economics. Prescription pain killers have become much more expensive and more difficultRead MoreDrug Abuse And Opioid Epidemic Essay1168 Words   |  5 Pagesepidemic has become the worst drug crisis in American history. Heroin and other opioids overdose kill more than 47,055 people a year. Deaths caused from drug overdose has outnumber as much as 40 percent compared to the death caused from car crashes in 2014 (Nolan and Amico 3). Fu rthermore, in 1999 there were only 15000 people died from drug overdose. This number has tripled in 15 years. Also, in his article, â€Å"America’s Addiction to Opioids: Heroin and Prescription Drug Abuse† Volkow also presents the factRead MoreShould Marijuana Be Legalized? Essay1011 Words   |  5 Pagesit would help the U.S stop most drug addictions. In this aspect I agree with the author, by legalizing every drug it will bring forth fundamental changes that will improve the social quality of America. In Gore Vidal essay, the author argued that there is a way to stop most drug addition and in a very short time. However, before we talk about Gore Vidal solution, we must talk about the main concern with drugs, addiction. Once a user has developed an addiction, it makes it increasingly difficultRead MoreAnalysis Of The Poem Chris Orr 1298 Words   |  6 Pageswrong with him except he was a heroin addict† stated Rick Anderson, local pier bowl merchant and longtime San Clemente local. Personally, I remember growing up in San Clemente, CA and waking up each morning and walking out on to my family deck and looking out onto the beach, thinking to myself how lucky my family was for the opportunity to be by the beach. I loved the beach, the feel of the ocean’s spray upon my face, the sand beneath my toes, but it wasn’t until heroin began to directly affect theRead MoreHeroin : Drugs And Drugs1472 Words   |  6 PagesAlso known as Diamorphine, heroin was first succes sfully synthesized by Charles Romley Alder Wright, a researcher at St. Mary’s Medical Hospital in London. American doctors jumped on the release of heroin as soon as it hit the markets. Heroin was used to treat many things including headaches, colds and even female hysteria. Around the time of its invention, a major morphine epidemic was sweeping across the nation. It was believed by the majority of American doctors that heroin had a solution to the longRead MoreWhy Is The Opioid Continues To Plague America1075 Words   |  5 PagesCrisis Continues to Plague America The opioid epidemic in America continues to grow at an alarming rate with no end in sight. All narcotics are derived from the opium poppy plant and then manufactured into different forms of drugs such as morphine, heroin, and other pharmaceutical and synthetic opioid drugs sold on the market for pain. Opium derived drugs block and suppress pain by binding to and stimulating the natural receptor sites for endorphins found in the central nervous system of a user’s brain

A Symbol In Lord Of The Flies Essay Example For Students

A Symbol In Lord Of The Flies Essay The symbol of fire is used throughout the entire book, Lord of the Flies. Although it is mentioned only briefly throughout, the significance of these occurrences has a strong effect on the characters, book, and the reader. The author, William Golding, uses the fire to show the status of the people on the island. The fire is first mentioned in chapter three when Ralph decides that it is needed if they wish to ever be rescued. It is again reintroduced in chapter eight when Piggy suggests that it should be moved to the beach on which they are inhabiting. Fire is later mentioned in chapters ten and eleven as the central conflict in the book at that time. This symbol is finally mentioned in chapter twelve as it engulfs the entire island. Golding uses fire as a symbol to represent hope and commonsense. He also uses the fire as a symbol from their absence from inevitable savagery. Fire is first introduced by Ralph as a means to communicate with the outside world saying they need help and need to be rescued. He says If a ship comes near the island they may not notice us. So we must make smoke on top of the mountain. We must make a fire. He and Jack soon come to the realization that they have nothing to light the fire with; instantly they notice that they can use Piggys glasses. Piggy soon becomes angry and is critical of how they use and maintain it. After Jack has agreed to keeping the fire lit along with his choir boys, he ascends to the mountain. One day while a ship is seen floating by the fire is not lit. Ralph becomes very mad at Jack even though he has caught a pig for food. The fire is a gift form Piggy to the inhabitants of the island. It represents the hope of being rescued. Later in chapter 8, after Jack has seceded from Ralphs tribe, Piggy suggests that the fire should be moved to the beach. While the fire is being built many of Ralphs followers leave to Jacks tribe. They build the fire by the bathing pool and light it when they are done. This shows Piggys commonsense because their was no point in having to go so far to keep the fire lit. It also helps to keep Ralphs mind on something other than the bad things that have come of Jack and secession. The Ralph represents the bathing pool because he is always trying to stay clean and the bathing pool is where people go to stay clean. The Piggy represents the fire because it was his gift to the island. Putting the fire next to the bathing pool represents the close bond between Ralph and Piggy. Again in chapter 10 fire is mentioned as the major conflict between Ralph and Jack. With their tribe depleted, Ralphs followers start to lack interest in the fire and the hope of being rescued. One night  while Ralphs tribe is asleep Jacks tribe comes over and steals Piggys glasses and the power to make fire. Ralph and Piggy go to Jack and say that they would have gladly shared the fire with him, all he had to do was ask. By stealing the power to make fire Ralph has lost the power to make logical decisions and the power to lead. When Piggy says that he will share the fire he truly believes that this fact will bring the two tribes together and stop the warfare. This is proven false when Jack refuses to cooperate. .u2bfef0d1a00d2f10f6cb6722dd756d6d , .u2bfef0d1a00d2f10f6cb6722dd756d6d .postImageUrl , .u2bfef0d1a00d2f10f6cb6722dd756d6d .centered-text-area { min-height: 80px; position: relative; } .u2bfef0d1a00d2f10f6cb6722dd756d6d , .u2bfef0d1a00d2f10f6cb6722dd756d6d:hover , .u2bfef0d1a00d2f10f6cb6722dd756d6d:visited , .u2bfef0d1a00d2f10f6cb6722dd756d6d:active { border:0!important; } .u2bfef0d1a00d2f10f6cb6722dd756d6d .clearfix:after { content: ""; display: table; clear: both; } .u2bfef0d1a00d2f10f6cb6722dd756d6d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u2bfef0d1a00d2f10f6cb6722dd756d6d:active , .u2bfef0d1a00d2f10f6cb6722dd756d6d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u2bfef0d1a00d2f10f6cb6722dd756d6d .centered-text-area { width: 100%; position: relative ; } .u2bfef0d1a00d2f10f6cb6722dd756d6d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u2bfef0d1a00d2f10f6cb6722dd756d6d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u2bfef0d1a00d2f10f6cb6722dd756d6d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u2bfef0d1a00d2f10f6cb6722dd756d6d:hover .ctaButton { background-color: #34495E!important; } .u2bfef0d1a00d2f10f6cb6722dd756d6d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u2bfef0d1a00d2f10f6cb6722dd756d6d .u2bfef0d1a00d2f10f6cb6722dd756d6d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u2bfef0d1a00d2f10f6cb6722dd756d6d:after { content: ""; display: block; clear: both; } READ: Nature is often hidden; sometimes overcome; seldom extinguished EssayThe symbol of fire in this book shows the relationship of Ralph and Jack by the placement of the fire. It also represented the hope of being rescued and as soon as Jack gained possession of it, all hope was lost for Ralph and his tribe. The fire represented commonsense to Ralph all throughout the book and when he lost it he lost the ability to make logical decisions which would have saved his life. This proves the point that the fire represents the status of the people on the island.