What do Ghandi and Friedman have in common?
- Published January 31st, 2006 in Economics
Everyone knows Ghandi. He was an Indian lawyer that fought for and achieved the freedom of India from the English (and forced South-Africa’s freedom appraisal) through peace. No war, guns settled down. He only empowered his very own speech.
On the other hand, not everyone knows who’s Milton Friedman. He won the Nobel Prize for its works on economics science and established very important theories about modern economics.
Both struggled for something. Ghandi tried to achieve freedom (as in freedom) while Friedman fought for economic freedom.
According to this picture, here’s how they stand on the political compass.
They are at the same level of libertarianism but way opposite regarding economics.
And when talking about Friedman, we’ve got to quote this:
“The social responsibility of business is to increase its profits.”
in hope that everyone reads this and realizes that this is exacly what you should NOT do. Focusing only on profit is a major mistake. Fortunately that companies, while watching their rivals collapse because they didn’t pay too much attention to social responsabilities and ethics, are becoming more responsible. And this is what I call an helpful invisible hand! Uff
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