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Is corporate responsibility good for business?

Posted on February 6, 2008 by Leah Hazard
Topics: Corporations

An Economist article from late January looks at the popularly supported concept of corporate responsibility and what that means for corporate profits.

If companies need to be vigilant about the limits of CSR, the same applies even more to society as a whole. A dangerous myth is gaining ground: that unadorned capitalism fails to serve the public interest. Profits are not good, goes the logic of much CSR; hence the attraction of turning companies into instruments of social policy. In fact, the opposite is true. The main contribution of companies to society comes precisely from those profits (and the products, services, salaries and ideas that competitive capitalism creates). If the business of business stops being business, we all lose.

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