Evaluation of Friedmans Argument Using Kantian Business Ethics

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Evaluation of Friedman’s Argument Using Kantian Business Ethics
Ethical questions raise different answers depending on the moral framework used. However, it is difficult to apply such complex theories as a basis for the decision-making processes in organizations. In his article, Milton Friedman suggests a guiding principle for business ethics. This article is quite successful in presenting application of the Kantian theory in business. Friedman asserts that the sole purpose of social responsibility of any business is to increase its profitability (Friedman 1). Such a proposition raises questions on the extent to which directors can go while trying to increase profits and whether business corporations should take part in socially responsible activities.
The primary arguments presented in the article give sufficient evidence of the application of Kantian theory in organizational set up. In his perception, Friedman explains that conducting ethically sound activities does not make a business any better. But a good business is that which carries out economically viable activities (Friedman 2). Using the Kantian perception, Friedman urges that the directors must always consider the shareholders’ interest, that is, profit maximization. He furt...