Milton Friedman, Nobel Laureate in Economics, once said, "the business of business is business." This famous quote gets to the heart of his argument that businesses exist to maximize the wealth of their owners and for no other reason.
Today, there is a growing group of entrepreneurs who disagree with Friedman's ideas regarding the role and purpose of a business. Corporate Social Responsibility (CSR) has entered the lexicon, as has social entrepreneurship. Both focus on a business doing well for owners, but also doing good for society.
If you are interested in social entrepreneurship, starting and running a business for personal gain and profit while also having the business play a role in the betterment of society, you should spend a few minutes reading this article:
A Capitalist Jolt for Charity by Steve Lohr in The New York Times
Mr. Lohr takes a closer look at ePals, a for-profit business that seeks not only profit, but to also play a role in improving education around the globe.
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