Explain the Difference Between Milton Friedman and Archie Carroll's Approaches

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The Answer is Both Milton Friedman and Archie Carroll argue their positions based on the impact of socially responsible actions on a firm's profits.Friedman says that socially responsible actions hurt a firm's efficiency.Carroll proposes that a lack of social responsibility results in increased government regulations,which reduce a firm's efficiency.Friedman argues that profit maximization is the firm's primary responsibility.Carroll argues that firms have economic,legal,ethical,and discretionary responsibilities.

Explain the Difference Between Milton Friedman and Archie Carroll's Approaches

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