30 July 2010
Misguided Virtue: False Notions of Corporate Social Responsibility.
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The doctrine of Corporate Social Responsibility (CSR) now enjoys widespread support. Companies are enjoined not simply to seek profit but to demonstrate their 'corporate citizenship' by working with a range of stakeholders to further environmental and social as well as economic goals. Pressures for such behaviour have come from NGOs but have been taken up by academics, other commentators and multinational enterprises themselves.
David Henderson examines the CSR doctrine, subjecting it to fundamental ciriticisms. In this controversial text he argues that, far from being harmless, its adoption threatens prosperity in poor countries as well as rich. It is likely to reduce competition and economic freedom and to undermine the market economy.
Further reading:
A Brief on Business Ethics by Tibor Machan.
The Role of Business in the Modern World by David Henderson.
Corporate Governance: Accountability in the Marketplace by Elaine Sternberg.
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