MONETARY ECONOMICS 1. “Inflation is always and everywhere a monetary phenomenon.” Who said this? – a) John Maynard Keynes; b) James Tobin; c) Milton Friedman; d) Irving Fisher. 1. The relationship between wage-price inflation and the level of economic activity is known as – a) GNP-inflation effect; b) Demand-supply effect; c) Phillips curve; d) None of the above. 2. Monetary policy stance of the central bank in Bangladesh
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business. It is important for the economy because a socially responsible business positively influences the economy. Consumers will want to be patrons of socially responsible business‚ and people will want to work for an ethically sound business. Milton Friedman argued in the article “Social Responsibility of Business is to Increase its Profits‚” that executives are employees of the owners‚ and that is where their direct responsibility lies.1 However‚ today there is much scrutiny given to businesses that
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company‚ also the company’s creditors or the banks that rely on a profit from the financing of the company. The ethical dilemma the manager is facing is whether the company should do the minimal of what the government or the law is requiring‚ as Milton Friedman said “there is one and only one social responsibility or business – to use its resources and engage its activities designated to increase profits so long as it engages in free and fair competition‚ without deception or fraud” or try to withhold
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an oxymoron‚ with ethical values considered an individual matter. People tend to think of ethics as something that cannot be applied‚ something existing in a realm of great complexity and therefore a waste of time and money – after all‚ didn’t Milton Friedman say: “The social responsibility of business is to increase its profit”? For some of us‚ such a statement makes our hair stand on end. Decades and dozens of corporate ethical failures later‚ when business ethicists and critical management theorists
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Table of Contents 1 Introduction 2 2 Discussion of case study 2 2.1 Identification of the Ethical and Governance issues raised in the case study 2 2.2 Critical analysis of the main ethical and the governance issues raised in the case study 5 2.3 An evaluation of the conditions that enabled the issues identified to arise 7 2.4 Recommendations to the company 9 3 Conclusion 11 4 References 12 Introduction Apple is one of the most successful companies to date‚ they have dominated most of
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directed towards profit whose only responsibility to society is to provide goods and services and to return maximum benefits to shareholders (Robbins‚ Bergman‚ Stagg and Coulter‚ 2003: 136). The Nobel Prize winning economist Milton Friedman endorsed this classical view. Friedman said the primary responsibility of manager’s is to operate the business to satisfy the interest of shareholders‚ and this interest of course is profit maximization (Robbins et al.‚ 2003: 136). At the other extreme‚ there is
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The Social Responsibility of Business is to Increase its Profits Milton Friedman The New York Times Magazine September 13‚ 1970 When I hear businessmen speak eloquently about the "social responsibilities of business in a free-enterprise system‚" I am reminded of the wonderful line about the Frenchman who discovered at the age of 70 that he had been speaking prose all his life. The businessmen believe that they are defending free enterprise when they declaim that business is not concerned "merely"
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Arguments against Corporate Social Responsibility While there may be people who are for the idea of corporate social responsibility‚ there are also others who oppose to it. One of whom‚ as we all know‚ is Milton Friedman. He believes that only individuals can have social responsibilities and that the purpose of a corporation is to provide the highest possible returns to shareholders while obeying all the laws and regulations. There are 5 main arguments against CSR. First of all‚ it lowers economic
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In an economy‚ there are many factors that influence how good a company performs. Demand Pull inflation is one of the many types of Inflations in the economy. According to Investopedia‚ “Demand Pulling Inflation is a type of inflation is a result of strong consumer demand. When many individuals are trying to purchase the same good‚ the price will inevitably increase. When this happens across the entire economy for all goods‚ it is known as demand-pull inflation.” What is it? Demand Pulling Inflation
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This assignment could bring you a maximum of three points from the seminar grade (see the file “Seminar grade”). Choose one of the following debate issues and discuss it in one page (300-350 words). You can also discuss another issue‚ but similar with these ones (a specific issue in the field of business ethics). For instance‚ you can find other cases on http://www.scu.edu/ethics/practicing/focusareas/cases.cfm?fam=BUSI or http://businessethicsblog.com/ (you can use the search engine on this blog
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