CSR

Oh, what the hell, as long as I am procrastinating:

The Economist ran a special report on corporate social responsibility in its January 17th issue. Articles include:

Do It Right: Corporate responsibility is largely a matter of enlightened self-interest
A Stitch in Time: How companies manage risks to their reputation
How Good Should Your Business Be? Corporate social responsibility has great momentum. All the more reason to be aware of its limits

The Economist is, of course, a very pro-market publication, but the questions it raises are nonetheless relevant for any real (i.e. non-utopian) discussion of CSR. For instance, how does one counter the argument (advocated by Milton Friedman, among others) that the greatest social responsibility of firms is to generate profit? Alternatively, is it responsible for CEOs to use the capital of others -- namely, their stockholders -- to polish up their corporate image? And is it enough for firms to simply approach CSR as a risk-management strategy?

Ponder, ponder.

(By the way, access to the above articles may require subscription to The Economist, but most colleges and universities should have a subscription for their students and faculty. Check your library's e-resources for more information.)