For Capitalism to produce more profits it has to consume more at a higher rate as wealth production in Corporatism of Capitalism is actually based on increased consumption. (There are some examples where increases to profit while still slowing the effects of consumption: windmill energy maybe).
Capitalism needs more of a limited resource (Earth). It may also need more workers (robotics can defer this maybe) which is not possible if this spiral upward goes to reaching the human carrying capacity of Earth.
So, maximization of corporate profits theory can not occur with out a breakdown. "Friedman's Theory" as an on-going business system is not possible as I see it. Therefore by extension, it goes to-->rejected
According to the theory rejection theorem, a theory becomes rejected only when other theories that are incompatible with the theory become accepted. By the First Law for theories, an accepted theory will remain accepted until it is replaced by other theories. And, there are other competing theories to test.
Further "Friedman's Theory" could be refined to "corporations obligation is extraction of wealth and externalizing costs for the benefits of shareholders." And by another measure, it is detrimental to what supports its very existence-society. Since, wealth is relative:NOT ALL CAN BE WEALTHY (though many equitable societies wealth per capita can be nearer to the mode). Here again "Friedman's Theory" benefits stockholders as individuals rather than society members occurs-as high wealth inequity is proven to be detrimental to a society.
And lastly is a Billionaire, worth 1,000,000,000 X more than you regardless anything you have done in your life without crime?
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