CSR and the strait‐jacket of economic rationality

Abstract

PurposeThe purpose of this paper is to argue that the corporate social responsibility (CSR) discourse has taken a wrong turn in its historical development, which risks a restriction of our thinking.Design/methodology/approachThe paper has two main sections followed by a concluding discussion. First, the way in which even proponents of CSR have allowed a search for a link between engagement in CSR and firm performance to become a predominant strand of the debate is explored. Second, the way that economic rationality has developed through the sociology of economic behaviour is examined to provide a novel lens through which to view CSR.FindingsIt is contended that arguments for CSR based in morality and ethics have been at least partially foreclosed by the CSR academy's response to pronouncements on the topic made by Milton Friedman in 1970. It is argued that, in responding to his arguments largely in the terms dictated by those arguments, the critical potential of CSR is diminished.Research limitations/implicationsThe paper suggests alternative intellectual resources that might help to re‐balance this debate, drawing on what might broadly be called the sociology of economic behaviour. The paper concludes by calling for a re‐moralised CSR, reminding one that economic activity is embedded in social relations.Originality/valueAttempts to critique CSR through lenses afforded by sociology are comparatively rare. This paper shows how the true nature of predominant preoccupations in the mainly business‐related debates on CSR can be more openly seen as being economically rational when examined using theoretical frames and language from sociology.