“Do corporations have social responsibility? Yes. Nobel Laureate Professor Milton Friedman put it best in 1970 when he said that in a free society “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.”

Only people, not businesses, have responsibilities. A CEO is an employee. He’s an employee of shareholders and customers. When the corporate executive community fails to recognize that fact and engages in activities unrelated to the pursuit of profits, lower national wealth, higher product prices, and lower return on investment are the result. ” –Walter E. Williams, Economics Professor