What is the neoliberal perspective on corporate social responsibility?

The neoliberal perspective on corporate social responsibility (CSR) is rooted in the belief that businesses should primarily focus on maximizing profits and shareholder value. Neoliberalism emphasizes the importance of free markets and limited government intervention in economic affairs. From this perspective, CSR is seen as a voluntary action that businesses may choose to engage in, but it should not be mandated or regulated by the government.

Neoliberals argue that businesses have a responsibility to their shareholders to generate profits and create wealth, as this ultimately benefits society through economic growth and job creation. They contend that businesses should prioritize their core economic activities and leave social and environmental issues to be addressed by other actors, such as governments, non-profit organizations, or individuals.

According to neoliberals, the pursuit of CSR initiatives can divert resources and attention away from a company's primary goal of profit maximization. They argue that businesses should focus on providing goods and services efficiently and competitively, as this will lead to the greatest overall societal welfare. Neoliberals also believe that market forces, such as consumer preferences and competition, can incentivize businesses to act responsibly without the need for external regulations or mandates.

In summary, the neoliberal perspective on corporate social responsibility is that businesses should prioritize profit maximization and leave social and environmental issues to be addressed by other actors. They view CSR as a voluntary action that should not be mandated or regulated by the government.