Milton Friedman Espoused the View That

question 16

Multiple Choice

Milton Friedman espoused the view that:

• A) A corporation's sole duty is to make money, regardless of the means utilized
• B) A corporation should sacrifice profit maximization if doing so is necessary to comply with legal mandates
• C) A corporation has a compelling obligation to engage in socially responsible activities, even at the sacrifice of profits
• D) All of the above

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Definitions:

World Economic Forum

An international organization that brings together political, business, and other leaders to shape global, regional, and industry agendas.

Davos Man

A term referring to the global elite of wealthy and powerful individuals who are believed to attend the World Economic Forum in Davos, Switzerland, impacting global policies.

Elitist

Describing an attitude or belief that some individuals or groups, considered to be superior in intellect, heritage, or social status, should lead or have more influence.

Globalization

The method of engaging and combining efforts among individuals, corporations, and governments across the globe.