Monday, March 20, 2006

Kruse Kronicle: Speaking in Tongues

Kruse Kronicle: Speaking in Tongues: "Professor Elaine Sternberg of Tulane University made a solid case against CSR. She argued that, by giving a hazily defined class of 'stakeholders' a say over corporate decisions, 'CSR would deprive owners of their property rights.' She noted that, 'Business ethics is about conducting business ethically,' not about pursuing goals extraneous to the company's mission. And, because business ethics derives from the very nature of business, owner value is enhanced over the long term by ethical business behavior.

Elaine Sternberg offered a good starting point. Some subsequent panelists who agreed with her put forth views consistent with hers. But many who did not simply talked past the problem of defining 'responsibility,' and put forth policy recommendations based on assumption businesses must address certain problems. Worse, the most often cited such 'problem' was climate change, which, as noted, may not be a problem at all."


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