Question

Discuss how the philosophy of economist Milton Friedman may have influenced the executives of Wells Fargo.

Answer 1

The corporate executive is an employee of the owners of the corporation.
- directing business towards their best interests, which is usually to maximize profits while adhering to both legal and ethical customs.
- to spend money on things like charity or other "social responsibility"= stealing the money of the owners and employees by not pursuing the best interests of the shareholders.

disposed towards a market approach to economics.
pursuing their own increases everyone's utility. "
Social Responsibility" is not something corporations should consider when conducting business.

Thanks