
FAQ About Milton Friedman

What is the Friedman Doctrine?
The Friedman Doctrine, also known as the Shareholder Theory, is the idea that the primary responsibility of a business is to its shareholders. According to this theory, articulated by Friedman in 1970, the main goal of a company should be to maximize profits, as long as it stays within the rules of the game, meaning engaging in open and free competition without deception or fraud.