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legitstertoday at 4:13 PM0 repliesview on HN

It's worth pointing out that Milton Friedman's words are regularly taken out of context. His full quote:

> "In each of these cases, the corporate executive would be spending someone else's money for a general social interest. Insofar as his actions in accord with his 'social responsibility' reduce returns to stockholders, he is spending their money. Insofar as his actions raise the price to customers, he is spending customers' money. Insofar as his actions lower the wages of some employees, he is spending their money.

> The stockholders or the customers or the employees could separately spend their own money on the particular action if they wished to do so. The executive is exercising a distinct 'social responsibility,' rather than serving as an agent of the stockholders or the customers or the employees, only if he spends the money in a different way than they would have spent it.

> But if he does this, he is in effect imposing taxes, on the one hand, and deciding how the tax proceeds shall be spent, on the other."

His point wasn't that businesses can't act ethically or with responsibility, it's that they shouldn't act to become welfare centers and corporate philanthropies (which was a trend at the time). And I think even the most anti-capitalist person would agree that corporation acting "charitably" should be treated with a huge eye of skepticism.