Abstract
The most popular ways of measuring the social responsibility of a corporation, whether by stakeholders, stockholders, or “shared value,” adopt a one-size-fits-all approach. The theories make an important and convenient assumption about the basic, underlying measurement process, namely, that all firms, regardless of industry, can be measured against a generic pattern. It is time to rethink the one-size-fits all truism. Drawing on work by Donaldson and Walsh, I show why companies in industries denominated by intrinsic values such as health, knowledge and justice, must take on weightier responsibilities vis a vis the particular intrinsic value, such as health, that defines their industry. The reasons why, as I will explain, derive from a reframed, more accurate model of “value creation,” one that relies on practical reason. A reframed model of value creation shows why Moderna or Pfizer, for example, have special obligations to prioritize the equitable global distribution of Covid 19 vaccines.
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