Justin Fox, Columnist

The Purpose of the Corporation Isn’t Lobbying

Milton Friedman was probably wrong about big business. But which part was he wrong about?

June 12, 2018 at 6:18 PM UTC

Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.”

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If you were out to depict Milton Friedman-style free-market economics as a matter of faith more than reason, you couldn’t do much better than have a choir called Friedmans Apostlar (Friedman’s Apostles, or just the Milton Friedman Choir) sing a hymn that begins:

Here’s the whole thing: