asked 4.5k views
5 votes
Milton Friedman advocated free capitalism with no other moral rules than the maximization of profit.

a. True
b. False

1 Answer

3 votes

Final answer:

No, the statement is false. Milton Friedman did advocate for free capitalism, but his position on the moral rules of capitalism was more nuanced.

Step-by-step explanation:

No, the statement is false. Milton Friedman did advocate for free capitalism, but his position on the moral rules of capitalism was more nuanced. In his famous essay published in 1970, Friedman argued that businesses have a moral responsibility to increase profits, as this is the primary goal of a business. However, he also believed that businesses should operate within the framework of legal and ethical rules that ensure fair competition and prevent harm to society.

answered
User Sankha Jayalath
by
8.8k points
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.