PHI 2397 Lecture Notes - Lecture 5: Conscription In The United States, Augusto Pinochet, Corporate Social Responsibility
13 Apr 2020
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The social responsibility of business is to increase its profits. Jewish-american economist regarded personal choice as the highest goal. Received the 1976 nobel prize in economic sciences for his research on consumption analysis, monetary history and theory. Advisor to republican u. s. president ronald reagan and conservative british prime. His political philosophy extolled the virtues of a free market economic system with minimal intervention. He once stated that his role in eliminating u. s. conscription was his proudest accomplishment. In an april 21, 1975, letter to general pinochet, friedman stated that "there is only one way to end inflation: by . shock treatment". In the letter friedman recommended to deliver the shock approach with " a package to eliminate the surprise and to relieve acute distress including "the removal of as many obstacles as possible that now hinder the private market. He closed, stating "such a shock program could end inflation in months .
