Question

The most outspoken advocate of the classical view of social responsibility is economist and Nobel laureate ________.

A) Milton Friedman
B) John Stuart Mill
C) Adam Smith
D) Karl Marx

Answer 1

Milton Friedman is the economist and Nobel laureate who is the most outspoken proponent of the classical view of social responsibility, focusing on the primary goal of business to increase profits with limited government intervention. The correct option is A.

Step-by-step explanation:

Milton Friedman was a staunch supporter of free-market capitalism and argued that the primary social responsibility of business is to increase its profits.

This view is encapsulated in his famous 1970 essay published in the New York Times. He believed that government intervention should be limited, and that economic stability can often be disrupted by the actions of government entities such as the Federal Reserve Bank.

Friedman's endorsement of a growth-tied money supply without Federal meddling aligns with his advocacy of minimized government role in the economy.

Hence, Option A is correct.