Final answer:
The Profit-maximization perspective argues that a business's economic productivity is harmed by pursuing social goals, as it could distract from the goal of increasing profits for shareholders.
Step-by-step explanation:
The argument that pursuing social goals hurts a business's economic productivity is best represented by the Profit-maximization perspective.
Milton Friedman, a notable economist, argued that a business's primary responsibility is to its shareholders and its core objective is profit maximization.
This perspective holds that activities unrelated to increasing a business's profits, such as social endeavors, could potentially harm economic productivity and divert the business from its main goal of generating shareholder wealth. Engaging in social responsibilities, as per this viewpoint, is not the role of businesses, but rather that of the government through regulation.
On the other hand, social responsibility and stakeholder perspectives adopt a broader view that appeases various stakeholders and values societal interests alongside profitability.
The Profit-maximization perspective argues that a business's economic productivity is harmed by pursuing social goals, as it could distract from the goal of increasing profits for shareholders.