Final answer:
The statement is b) False. Milton Friedman's economic philosophy does not advocate increased government regulation to ensure that corporations are socially responsible. Friedman argued against government intervention in the economy and believed that excessive regulation could lead to economic instability.
Step-by-step explanation:
The statement is b) False. Milton Friedman's economic philosophy actually advocates for decreased government regulation to ensure that corporations are socially responsible. He believed that businesses should focus solely on maximizing profits, and it is the responsibility of individuals acting on behalf of a firm to make decisions that will increase profits.
Milton Friedman's economic philosophy actually advocates for decreased government regulation to ensure that corporations are socially responsible. He believed that businesses should focus solely on maximizing profits, and it is the responsibility of individuals acting on behalf of a firm to make decisions Friedman argued against government intervention in the economy and believed that excessive regulation could lead to economic instability.