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Harvard University has received the largest gift in its history, $350 million to the School of Public Health,from Ronnie and Gerald Chan,who are the leader of Hang Lung, a major developer of real estate in China.
Obviously, these two brothers have their “social conscience” which is talked about in the article “The Social Responsibility of Business Is to Increase Its Profits” .But what I concerned about is “when” they donate their money, or when they start to do something about their social responsibility.
Like Milton Friedman said in his article “there is one and only one social responsibility of business – to use it resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud”. Zimmerli, Walther, Holzinger, Markus, and Richter, Klaus, eds. Corporate Ethics and Corporate Governance. Berlin/Heidelberg, DEU: Springer, 2007. ProQuest ebrary. Web. 9 September 2014.
When the Hang Lung brothers start to think about their social responsibility? After they succeeded in their business. That’s why I agree with Milton Friedman that business only have to concentrate on their profits because it is their duty, just like teachers should always think about how to improve their teaching skills. After that, after they succeed, they should think about how to repay the society.And it is always true that they can contribute more to the society after they achieve success in their work.
Reference:
“School of Public Health Renamed with $350 Million Gift, Largest in Harvard History” by Matthew Q: http://www.thecrimson.com/article/2014/9/8/chan-gift-public-health/
“The Social Responsibility of Business is to Increase its Profits” by Milton Friedman: http://www.umich.edu/~thecore/doc/Friedman.pdf