The Concept of Social Responsibility of Business: From Economics to Law

Abstract

The article discusses the concept of social responsibility of business, which underlies the theory of corporate management, and traces its evolution from economic to legal content in the XX-XXI centuries. The authors consider various paradigms of understanding the essence and principles of practical implementation of the concept of social responsibility of business from the theories of corporate egoism, corporate altruism, reasonable altruism to the "pyramidal" concept of corporate social responsibility, developed by A. Caroll, and ESG criteria. Historical features of the perception of entrepreneurship in Russia are indicated as a particular aspect. A proposal is made to popularize entrepreneurship through the work of high-quality corporate management aimed at solving social problems. The article recognizes the relevance of understanding the concept of social responsibility of business beyond economic theory as a universal concept affecting the spheres of economics, law, politics and international cooperation on humanitarian issues. Analyzing the concept of social responsibility of business in the legal aspect, which recognizes the need to balance social responsibility and respect for the interests of entrepreneurial activity, the authors turn to the theory of two orders (space and taxis) by F.A. von Hayek. Our analysis showed that one of the tasks of legal comprehension of the concept of social responsibility of business is the search for a one-to-one correspondence between what is prescribed to the subject of entrepreneurial activity by virtue of the law, and what the corporation voluntarily accepts as its social obligation.