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| Author: | Husted, B.W. Jesus Salazar, J. de |
| Title: | Taking Friedman seriously: Maximizing profits and social performance |
| Journal: | Journal of Management Studies
2006 : JAN, VOL. 43:1, p. 75-91 |
| Index terms: | altruism PROFIT social responsibility |
| Language: | eng |
| Abstract: | This paper explores the situation of firms that have two objectives: profit maximization and social performance. By comparing the cases of altruism, coerced egoism and strategy, this paper uses the tools of microeconomics to define the optimal level of social output that should be produced in each case. It is argued that greater overall social output will be achieved by the strategic approach, than by the altruistic approach. |
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