Answers Quote by Milton Friedman
“So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.”
About This Quote
Source Speech: University of Chicago Business School, 1970
He argues that corporate executives' only duty is to maximize shareholder profit, provided they obey the law, rejecting broader social responsibilities.
In simple terms: Executives should focus solely on profit within legal bounds.
Key Takeaway
Prioritize shareholder value above other duties.
Themes
economics
business ethics
shareholder theory
Mood
critical
analytical
Type
philosophical
controversial
When to use this quote
- corporate decision making
- investment strategies
- regulatory compliance
Key Concepts
profit maximization
legal compliance
stakeholder debate
Questions to Reflect On
- Is profit the sole purpose of business?
- What are the consequences of ignoring broader responsibilities?
A Different Perspective
Ignores impacts on employees, environment, and society.
