Social Responsibility and Fundamental Misconception - Sociology Assignment Help

Assignment Task

Source I 

The view has been gaining widespread acceptance that corporate officials ... have a "social responsibility" that goes beyond serving the interest of their stockholders... . This view shows a fundamental misconception of the character and nature of a free economy. In such an economy, there is one and only one social responsibility of business — to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition, without deception or fraud. —Milton Friedman, 1962 

Source II 

Our natural environment is the source of our wealth and our health. Canada's forests, water, soil and energy resources fuel our economy. However, if we treat our environment like a business in liquidation, those resources and our economy will suffer. The lack of federal regulation, monitoring, and action has made Canada one of the world's biggest and most tragic offenders against the environment. We rank amongst the world's worst for wasteful use of natural resources. Our soil, air and waters are dumping grounds for toxic chemicals. Through inadequate environmental protection we risk leaving our children the deplorable legacy of a debilitated and degraded environment. How can we be so thoughtless? —from the Green Party of Canada

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