Milton Friedman

Part I of Essay
is one of this century's most distinguished and influential economists. He is a Nobel Laureate, and has been a teacher, presidential advisor, and Newsweek columnist. His 1962 book Capitalism and Freedom is a classic examination of capitalism as both an economic system and ....

Part II of Essay
.... he has put forth: 1. Interacting with the community will help the firm in the long run by attracting desirable employees. 2. Corporate charitable contributions can be deducted for income tax purposes. 3. Corporations are spending the money of their stockholders without their permission. 4. A manager is responsible only to his employers and not the community. All of the above may sound bad, but the intentions behind them are not entirely falsified. It would be selfish of us to assume that a corporation would spend a considerable amoun ....