Milton Freeman, By John Milton Friedman By Milton Friedman
According to Friedman, a ‘good’ corporation is not one that undertakes activities only because they are ethically sound, but because they are economically viable. Milton Friedman argued against spending shareholder’s money for anything that does not directly contribute to increasing shareholder wealth or profit. His main argument stems from his views on what constitutes ethical spending. In other words, he noted that it is not appropriate for a corporate executive or director to embark on social objectives or programs because there is little incentive for prudent expenditure, particularly when one is spending money owed to the shareholders through dividends. In addition, companies should not engage in any charitable activities or dedicate