Milton
Friedman and Baumol the great monetary
economist of our time held’s that private
company are not in any way been social
responsible by stating that it is
not easy to fixed social responsibility
on practicable terms because.
1.
It is a matter of public policy
2.
Lack
of legal powers of the business member to be socially responsible.
3.
It
leads to increment on the price of goods and services
4.
Private
company are not moral agent
5.
It
can create conflict between
government and businessmen because it
will make them more powerful if they
assume social reason-ability
6.
There
is no measuring tendency between
efficiency of the company and
social reason-ability
7.
Social
responsibilities should be
preserved only for government because
companies pays tax
8.
It will bring about Infringement on the efficiency of the economic
growth if company assume social responsible
9.
Limited expenditures of the manager to coop with social responsibly
10.
Social responsibility ethical not
constitutional.
All above is applicable
to private companies in Nigerian and they should not be socially responsible.