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The only responsibility of corporate executives, provided they stay within the law, is to make as much money as possible for their companies. Should the only responsibility of a business executive be to maximize business profits, within the bounds of the law? In several respects this position has considerable merit; yet it ignores certain compelling arguments for imposing on businesses additional obligations to the society in which they operate. On the one hand are two convincing arguments that profit maximization within the bounds of the law should be a business executives sole responsibility. First, imposing on businesses additional duties to the society in which they operate can, paradoxically, harm that society. Compliance with higher ethical standards than the law requires--m such areas as environmental impact and workplace conditions--adds to business expenses and lowers immediate profits. In turn, lower profits can prevent the socially conscious business from creating more jobs, and from keeping its prices low and the quality of its products and services high. Thus if businesses go further than their legal duties in serving their communities the end result might be a net disservice to those communities. Secondly, by affirming that profit maximization within legal bounds is the most ethical behavior possible for business, we encourage private enterprise, and more individuals enter the marketplace in the quest of profits. The inevitable result of increased competition is lower prices and better products, both of which serve the interests of consumers. Moreover, since maximizing profits enhances the wealth of a companys stakeholders, broad participation in private enterprise raises the wealth of a nation, expands its economy, and raises its overall standard of living and quality of life. | 
