After the Fall: The Global Financial Crisis as a Test of Corporate Social Responsibility Theories

Abstract

In this paper, we look at the development of the set of core corporate social responsibility (CSR) theories in response to Friedman's ascendancy. We assess the impact of the current economic collapse on theories built on this dialectical framework. Finally, we suggest where we might find new theoretical underpinnings for the next generation of CSR that can meet the challenges not only of the current financial crisis, but the looming ecological and geopolitical crises.

Keywords: nature of firms, CSR, economic policy, economic models