[amp_mcq option1=”Adam Smith” option2=”Mallen Baker” option3=”Milton Friedman” option4=”Mark Pastin (c) Milton Friedman” correct=”option3″]<\/p>\n
The correct answer is (c) Milton Friedman.<\/p>\n
Milton Friedman was an American economist and Nobel laureate who is considered one of the most influential economists of the 20th century. He is best known for his work on monetary theory and his defense of free-market capitalism.<\/p>\n
In his 1970 article “The Social Responsibility of Business Is to Increase Its Profits,” Friedman argued that the only social responsibility of business is to increase its profits. He argued that businesses should not be involved in social or political causes, as this would be a misuse of their resources.<\/p>\n
Friedman’s view has been controversial, but it remains influential in the business world. Many businesses continue to focus on maximizing profits, while others have adopted a more socially responsible approach.<\/p>\n
Adam Smith (a) was a Scottish economist and philosopher who is considered the father of modern economics. He is best known for his book The Wealth of Nations, which was published in 1776. In The Wealth of Nations, Smith argued that the free market is the best way to organize an economy. He believed that the free market would lead to the greatest good for the greatest number of people.<\/p>\n
Mallen Baker (b) is a British businessman and philanthropist. He is the founder and chairman of the Baker Group, a private equity firm. Baker is also a trustee of the charity Comic Relief.<\/p>\n
Mark Pastin (d) is an American business professor and author. He is the author of several books on business ethics, including The Hard Problems of Management and The Ethical Imperative.<\/p>\n","protected":false},"excerpt":{"rendered":"
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