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Is the CSR Craze Good for Society? The Welfare Economic Approach to Corporate Social Responsibility

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  • Atle Blomgren

Abstract

Welfare economic analysis of Corporate Social Responsibility (CSR) equates CSR with the provision of private goods bundled with provision of public goods (or, in the symmetrical case, bundled with the curtailment of public bads). Two common examples are cause-related marketing and “green goods” where private goods are sold at premiums that are then used to pay for provision of public goods and/or curtailment of public bads. This paper expands upon the model of Besley and Ghatak (2007) for the case of imperfect government to develop a complete typology for analyzing whether the provision/curtailment of public goods/bads will be best served by companies (through CSR), by imperfect governments or by non-profit organizations. Finally the paper discusses the main differences between the welfare economic approach to CSR and the general multi-disciplinary CSR literature.

Suggested Citation

  • Atle Blomgren, 2011. "Is the CSR Craze Good for Society? The Welfare Economic Approach to Corporate Social Responsibility," Review of Social Economy, Taylor & Francis Journals, vol. 69(4), pages 495-515, December.
    • Handle: RePEc:taf:rsocec:v:69:y:2011:i:4:p:495-515
    DOI: 10.1080/00346764.2011.592329
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    References listed on IDEAS

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    1. Jean Tirole, 2006. "The Theory of Corporate Finance," Post-Print hal-00173191, HAL.
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    Cited by:

    1. Marcela Sefora Sana & Tarcza Teodora Mihaela, 2015. "A Literature Review On Cause-Related Marketing Strategic Orientation In Business Research," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 1236-1242, July.
    2. Paolo Esposito & Zubair Ahmad & Vincenzo Riso & Noman Mustafa, 2024. "Beyond the business case? Retracing the walk of Corporate social responsibility and financial performance relationship in the Oil and Gas sector," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2211-2224, May.
    3. Md. Harun Ur Rashid & Shah Asadullah Mohd. Zobair & Md. Jafar Shadek & Md. Ariful Hoque & Afzal Ahmad, 2019. "Factors Influencing Green Performance in Manufacturing Industries," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(6), pages 159-173, October.

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