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About this quote

What does it mean?
Friedman states that business's primary role is business itself.
In plain terms
Companies should focus on business activities.
What can you take from it?
Businesses should stick to business.

Where it applies

  • corporate strategy
  • business ethics
  • economic policy

Putting it to work

  • define corporate purpose
  • focus business activities

Questions to consider

  • Is business only business?
  • What about social impact?

Another view

Businesses often have broader social responsibilities.

More from Milton Friedman

  1. Inflation is the one form of taxation that can be imposed without legislation.

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  2. The government solution to a problem is usually as bad as the problem.

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  3. If an exchange between two parties is voluntary, it will not take place unless both believe they will benefit from it. Most economic fallacies derive from the …

    Permalink to quote #36

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