Friday, September 13, 2019

Hard To See How Milton Friedman Could Be Wrong On This.

Friedman writes: "There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud."

The main thrust of the argument is that business will create great positives: exports, jobs, opportunities, growth, social improvement, taxation for the exchequer etc.
The caveat, is of course, key. Capitalism will always need a measure of government control - but that should be as light a touch as reasonably possible. The balance will not be easily achieved.

Prayers of Jane Austen.

The little-known prayers written by Jane Austen. Jane Austen (1775-1817) on engraving from  1873.  (Photo: Getty/iStock) It is now 250 years...