Corporate social responsibility is one of those topics - like Manchester United and the New York Yankees - that raises passions both for and against. To CSR's proponents, encouraging companies to do more than the law demands to create a better workplace and society is a powerful force for good. To its opponents, this is dangerous thinking because it distracts companies from their true role in a market economy - maximising profits while staying within the law.
Personally, I think both sides are nuts. There is no harm in companies spending a little time and money on CSR projects. Corporate chiefs have always splashed shareholders' cash on things that had nothing to do with maximising profits, such as building marble-clad headquarters and buying abstract impressionist art. Shareholders are happy as long as the amounts involved are moderate and earnings per share keep on rising. On balance, I would rather see this marginal investment devoted to CSR.
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