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Hayek on corporate social responsibility

Author

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  • Shigeki Kusunoki

Abstract

Hayek published a piece in 1960 that criticized corporate social responsibility as a norm for economic organizations, although he regarded corporate actions to be subject to essentially the same moral rules as individual action. This article identifies and reorganizes Hayek’s criticisms of social justice, the rule of law and morality, his comparison of the open society and the closed society, and his treatment of charity and altruism. The aim is to clarify the Hayekian perspective on CSR. These considerations explain why the ‘social’ perspective on responsibility is considered dangerous in a free society, how to separate legal compliance and morality from concerns about social justice. Copyright Springer Science+Business Media New York 2016

Suggested Citation

  • Shigeki Kusunoki, 2016. "Hayek on corporate social responsibility," Constitutional Political Economy, Springer, vol. 27(1), pages 93-110, March.
    • Handle: RePEc:kap:copoec:v:27:y:2016:i:1:p:93-110
    DOI: 10.1007/s10602-015-9192-4
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    Cited by:

    1. Matthew Caulfield, 2023. "Between Markets, Politics, and Ethics: On Vendor Conscience and Impersonal Markets," Journal of Business Ethics, Springer, vol. 188(2), pages 307-326, November.

    More about this item

    Keywords

    Corporate social responsibility; Business ethics; Friedrich Hayek; Rule of law; Social justice; Spontaneous order; D21; K20; L21; M14;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • K20 - Law and Economics - - Regulation and Business Law - - - General
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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