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The Friedman Doctrine Is the Belief That Ethics Are Nothing

question 100

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The Friedman doctrine is the belief that ethics are nothing more than a reflection of culture and therefore, a firm should adopt the ethics of the culture in which it is operating.


Definitions:

Market Price

The ongoing price for buying or selling a service or asset at the moment.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials that can be refined to produce usable products such as gasoline.

Real Terms

Describes values adjusted for inflation, allowing for the comparison of quantities as if prices had not changed over time.

Downward Trend

A situation in which market prices, economic indicators, or other measured data show a consistent decline over time.

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