Policy question

Milton Friedman stated, "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." (Chapter 3, p. 72, Textbook).

Provide arguments both (1) in support of and (2) against this statement; (3) what is your position on the issue?  Please closely follow the guidelines related to discussion assignments provided in the syllabus.

While the questions may involve your opinions, you should utilize the relevant chapter material (all applicable theories, etc.,) as much as possible; otherwise, points may be deducted.  However, you should not summarize theories, but utilize them in preparing your responses.