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Google, China and Milton Friedman
“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.” - Milton Friedman, The Social Responsibility of Business is to Increase its Profits
Google has received wide and well-deserved praise for their rejection of China’s censorship. In my opinion, a more profound implication of Google’s move is an implicit rejection of the orthodox view - most famously associated Milton Friedman - that a business’ sole responsibility is to increase profits (without breaking the law).
This was posted 2 years ago. It has 25 notes.
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paramendra reblogged this from cdixon and added:
My note: Not if you think of free speech as a basic ground rule.
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heyjb reblogged this from infynyxx and added:
You’re dreaming if you think Google did this out of any corporate nobility. They did it because they realize a deal with...
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giantrobotlasers reblogged this from cdixon and added:
I’m with Milton. In fact, I think companies trying to be moral could be very dangerous. In this case, I really, really...
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infynyxx reblogged this from cdixon
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youmeandmyapi reblogged this from cdixon and added:
I’m just starting on my journey through Elinor Ostrom’s work, but I have this inclination that Ostrom may be the 21st...
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christmasgorilla liked this
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jared said:
I’m not a huge Friedman fan so it’s nice to see this. Thanks for pointing it out.
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texturism liked this
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cdixon posted this
