“Milton [Friedman] argued that a society with more wealth can better pursue its transcendent goals, and more wealth is produced by maximizing profits. THat’s right, and is one crucial argument for capitalism. He further argued that a hired manager for Boeing who improves his social standing in Chicago by getting the corporation to give to the Lyric Opera is stealing money from the stockholders. That’s right, too, though there is a contrary economic argument, namely that the ability to play the noble lord with the stockholders’ money is part of executive compensation. The stockholders would have to pay the manager more in cash than they do if they insisted that he not be allowed to give away the corporation’s money to worthy causes.”

-Deirdre McCloskey, The Bourgeois Virtues

She then goes on to note that Milton Friedman advocated maximizing value within ethical constraints, something that often gets missed by his detractors.