Milton Friedman and the Volkswagen implosion
It was Friedman who laid out the monetarist case AGAINST social responsibility for business
We should have seen it coming; in fact, we did see it coming and still ignored the obvious truth. Volkswagen’s infamous “Diesel Dupe” is a self-inflicted (possibly mortal) wound for the iconic German carmaker. At present, VW is recalling 500,000 cars in the U.S. and has set aside 6.5 billion Euros to cover the expected…