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Discussion Questions

by Foundation for Economic Education

1. Milton Friedman argues that businesses best fulfill their social responsibilities to society by focusing on increased profits. John Mackey, founder of Whole Foods Market, believes that a business's social responsibility goes beyond maximizing profits. Can both views be correct? If so, how?

2. Do you find Professor Freeman’s explanation convincing that maximizing value for shareholders also involves maximizing value for stakeholders?

EoE: 2.4.C - Shareholders vs. Stakeholders

Darden School of Business Professor R. Edward Freeman explains how maximizing value for shareholders actually entails also maximizing value for stakeholders. This video is included as part of a 40-lesson course on the Economics of Entrepreneurship available now for teachers and students at no charge at

from 2.4C Shareholders vs. Stakeholders - Friedman vs. Freeman Debate - R. Edward Freeman (2016)
Creator: Institute for Corporate Ethics
Posted by Foundation for Economic Education