We will assume that business managers make all decisions with the intent of maximizing profits. Of course managers care about profits, but is that the only thing they care about? Should it be the only thing they care about? What might be the unintended consequences of allowing them to care about thingsother than profits?

Read Milton Friedman's famous (and controversial) essayThe Social Responsibility of Business is to Increase its Profits

http://websites.umich.edu/~thecore/doc/Friedman.pdf

Although this essay was written in 1970, it has important implications for real world problems you will encounter today.

Do you agree with Friedman? This is not a straightforward answer. Read the following articles to help you decide:

• Rebecca Henderson on Reimagining Capitalismhttps://www.econtalk.org/rebecca-henderson-on-reimagining-capitalism/
• Milton Friedman on Corporate Social Responsibilityhttps://lucidmanager.org/management/milton-friedman-corporate-social-responsibility/
• Socially Responsible Corporations: The Seen and the Unseenhttps://www.econlib.org/library/Columns/y2013/Leecorporations.html?highlight=%5B%22corporate%22,%22social+responsibility%22%5D