Polestar refined: Business ethics and political economy

  title={Polestar refined: Business ethics and political economy},
  author={John R. Danley},
  journal={Journal of Business Ethics},
  • John R. Danley
  • Published 1 December 1991
  • Economics
  • Journal of Business Ethics
Although Friedman's ‘The Social Responsibility of Business is to Increase Profits’ is widely read, the central argument is rarely identified. Stone's discussion of Friedman in Where the Law Ends, is often used as a companion piece. Stone claims that the most important argument in Friedman is the Polestar argument but never succeeds in explaining what it is. This paper shows that Friedman's position must be read in the context of his theory of political economy, and that at least four distinct… 
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