Decades after Milton Friedman framed the debate over the social responsibility of business with an article in the New York Times Magazine, the discussion continues. Should businesses concentrate on achieving socially desirable outcomes? Can business be guided by the rule of law when governments are sometimes corrupt? How does operating globally affect a company’s behavior? These and other issues were the focus of one of the sessions during Stanford’s 75th anniversary celebration in May 2000. The participants included business leader Bowen “Buzz” McCoy, Stanford Business School faculty members Kirk Hanson and David Brady, and Nobel economist Milton Friedman.
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