How Friedman’s View on Individual Freedom Relates to Stakeholder Theory and Social Contract Theory
Friedman’s view on corporate social responsibility (CSR) is often accused of being incoherent and of setting rather low ethical standards for managers. This paper outlines Friedman’s ethical expectations for corporate executives against the backdrop of the strong emphasis he puts on individual freed...
Autori: | ; |
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Tipo di documento: | Elettronico Articolo |
Lingua: | Inglese |
Verificare la disponibilità: | HBZ Gateway |
Journals Online & Print: | |
Fernleihe: | Fernleihe für die Fachinformationsdienste |
Pubblicazione: |
Springer Science + Business Media B. V
2018
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In: |
Journal of business ethics
Anno: 2018, Volume: 153, Fascicolo: 1, Pagine: 41-52 |
Altre parole chiave: | B
Integrative Social Contracts Theory
B Profit Maximization B Individual freedom B Stakeholder Theory B Milton Friedman |
Accesso online: |
Volltext (lizenzpflichtig) |
Riepilogo: | Friedman’s view on corporate social responsibility (CSR) is often accused of being incoherent and of setting rather low ethical standards for managers. This paper outlines Friedman’s ethical expectations for corporate executives against the backdrop of the strong emphasis he puts on individual freedom. Doing so reveals that the ethical standards he imposes on managers can be strictly deduced from individual freedom and that these standards involve both deontological norms and the fulfillment of particular stakeholder expectations. These insights illustrate the necessity to reconsider how Friedman’s approach relates to other important normative theories of business ethics. Contrasting Friedman’s approach with stakeholder theory and integrative social contract theory—when considering the importance he assigns to individual freedom—shows how and why these approaches differ. Still, the comparison also highlights striking similarities. This paper contributes to a better understanding of Friedman’s position—which is still one of the most influential approaches in business ethics research—because it enables a differentiated look at its strengths and weaknesses. |
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ISSN: | 1573-0697 |
Comprende: | Enthalten in: Journal of business ethics
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Persistent identifiers: | DOI: 10.1007/s10551-016-3353-x |