Corporate Social Responsibility Update

Interesting read here.

Clive Crook, the Economist's deputy editor, who is as sceptical about the benefits of corporate social responsibility (CSR). In his recently published survey, Crook divides types of CSR into four categories: “win-win”, “borrowed virtue”, “pernicious” and “delusional”, and believes that most efforts fall into the latter category—they neither make a real difference to society nor improve a company’s bottom line. A public firm’s first loyalty, Crook holds, should be to its shareholders: managers should not reward their own virtue at investors’ expense.

And your thoughts? More here.