Corporate Social Responsibility
Presented by Bob Hoffman, The College of St. Scholastica
Is society better off if firms sacrifice profits in order to help society?
Many firms proclaim that they want to behave in a socially responsible way. If this has any impact upon the firm's decisions, it means that there must be some decisions where the firm will sacrifice the interests of its shareholders for the interests of other shareholders. Most economists argue that the best thing a firm can do for society is to maximize profits.
In this presentation, we will explore this issue and use examples to help us come to some preliminary conclusions.