The Sins of the CSR Movement: Errors in CSR

CSR, as a social and political movement, misunderstands the modern market economy. The purpose of corporations or publicly traded companies is not to reduce risk or liability but to promote risk. CSR distorts the role of corporate officers (not the distribution of company assets). It misunderstands the role of capital markets, promotes illegal and irresponsible behaviour on the part of some corporations, destabilises national and world economies, promotes the growth of the deep bureaucratic state and leads to crony capitalism. It encourages the false belief in a utopian social technology; inhibits economic and scientific growth; and misplaces the responsibility for failed states and cultural retardation.