Milton Friedman's Basic Position Is That the Only Social Responsibility

question 63

True/False

Milton Friedman's basic position is that the only social responsibility of business is to increase profits, so long as the company stays within the rules of law.

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Definitions:

Repression

A defense mechanism proposed by psychoanalytic theory, where a person unconsciously blocks out painful, uncomfortable, or threatening memories, thoughts, or desires from consciousness.

Projection

A defense mechanism where individuals attribute their unwanted feelings or impulses onto someone else, rather than admitting to or dealing with the unwanted feelings themselves.

Identification

The process of associating oneself with certain characteristics of another person, group, or idea, often as a role model or for the sake of establishing one's identity.

Self-Esteem

An individual's overall subjective evaluation of their own worth or value.