The Market For Virtue: The Potential And Limits Of Corporate Social Responsibility [Hardcover]

David Vogel (Author)

Book Description

ISBN-10: 0815790767 | ISBN-13: 978-0815790761 | Publication Date: July 15, 2005

The principles and practices of corporate social responsibility date back more than a century , but the current wave of global interest is unprecedented. With The Market for Virtue, David Vogel has provided the most comprehensive analysis to date of the contemporary CSR movement in both the United States and Europe. Growing awareness of CSR is evident in the growth of social and ethical investment funds, voluntary codes of corporate conduct, and companies’ self-reporting on social and environmental practices. Deep grassroots interests can be seen in boycotts, protests, and the growing number of organizations monitoring corporate social and environmental performance. A renowned authority on business-government relations, Vogel offers a thoughtful and balanced appraisal of the movement’s accomplishments and limitations, including a critical evaluation of the business case for CSR. While acknowledging the movement’s achievements—most notably in labor, human rights, and environmental conditions in developing countries—Vogel also demonstrates that CSR’s potential to bring about a significant change in corporate behavior is exaggerated. While corporate social responsibility can be a useful tool alongside laws and regulations, it cannot completely replace them. The Market for Virtue explores the extent to which improvements in corporate conduct can occur without more extensive or effective government regulation—in the United States, Europe, the Far East, and developing nations. In other words, what is the long-term potential of business self-regulation? The improvement that can be expected is far more modest than recent breathless writing on CSR would indicate. At some point, many businesses must choose between doing what seems ethically rights and what is most profitable. Since businesses are typically found to make money—and because shareholders and capitalism demand that they do so—the bottom line tends to win out. There is a market for virtue, but it is limited by the substantial costs of more responsible business behavior.

Editorial Reviews

Review

"Here is the definitive guide to what corporate social responsibility can and cannot accomplish in a modern capitalist economy." --Robert B. Reich, University Professor of social and economic policy, Brandeis University, and former U.S. Secretary of Labor

"The study combines sound logic with illustrative cases, and advances the sophistication of the CSR debate considerably." --John G. Ruggie, Harvard University, co-architect of UN Global Compact

"Vogel provides needed clarity about the costs, benefits, ambiguities and potential of corporate social responsibility." --Susan Ariel Aaronson, senior fellow, Kenan Institute at the University of North Carolina

About the Author

David Vogel is the Solomon Lee Professor of Business Ethics at the Haas School of Business and professor of political science at the University of California, Berkeley. His books include Barriers or Benefits? Regulation in Transatlantic Trade (Brookings, 1998); Kindred Strangers: The Uneasy Relationship between Politics and Business (Princeton, 1996); and Trading Up: Consumer and Environmental Regulation in a Global Economy (Harvard, 1995).

Product Details

• Hardcover: 222 pages
• Publisher: Brookings Institution Press (July 15, 2005)
• Language: English
• ISBN-10: 0815790767
• ISBN-13: 978-0815790761
• Product Dimensions: 9.2 x 6.3 x 1.2 inches
• Shipping Weight: 1.1 pounds
• Average Customer Review: 4.7 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #805,129 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

11 of 13 people found the following review helpful:

5.0 out of 5 stars Best Book on the Subject, October 6, 2005

By 

James J. O'toole "James O'Toole" - See all my reviews
(REAL NAME)   

This review is from: The Market For Virtue: The Potential And Limits Of Corporate Social Responsibility (Hardcover)

Vogel's THE MARKET FOR VIRTUE is a balanced and objective review of the many activites that fall under the rubric of "corporate social responsibility." He convincingly shows that these are over-ballyhooed by their enthusiasts, and over-disparaged by their critics. In fact, they make useful, albeit marginal, contributions to the welfare of communities and society. He draws useful distinctions between the many different manifestations of CSR, and offers thoughtful metrics for evaluating them. He cites literally hundreds of examples, and helps the reader to think about them in a rigorous and disciplined way. This is a must-read for corporate executives and business students.

7 of 8 people found the following review helpful:

5.0 out of 5 stars The Seminal Work in CSR, November 17, 2005

By 

Jerry Schulman - See all my reviews
(REAL NAME)   

This review is from: The Market For Virtue: The Potential And Limits Of Corporate Social Responsibility (Hardcover)

Vogel's THE MARKET FOR VIRTUE is the seminal work in CSR. His lively text offers the right mix of theory, analysis, and example. His conclusions are profound and will make a difference for the better. Required reading for corporate executives, business and management students, and those of us who simply wish to be informed participants in 21st century society.

6 of 7 people found the following review helpful:

5.0 out of 5 stars An invaluable resource offering a serious-minded, in-depth discussion of a complex issue, January 5, 2007

By 

Midwest Book Review (Oregon, WI USA) - See all my reviews

This review is from: The Market for Virtue: The Potential And Limits of Corporate Social Responsibility (Paperback)

Written by Professor of Business Ethics (Haas School of Business) David Vogel, The Market for Virtue: The Potential and Limits of Corporate Social Responsibility is a scholarly examination of a politically charged and highly polarized debate concerning what corporate social responsibility can, cannot, and must accomplish in a modern capitalist economy. Chapters explore answers to and differing perspectives on the questions "Is there a business case for virtue?" and "What is the demand for virtue?" as well as examining corporate responsibility with regard to both the environment and human rights. Extensively researched, The Market for Virtue is an invaluable resource offering a serious-minded, in-depth discussion of a complex issue. Enthusiastically recommended especially for college library shelves, and invaluable reading for activists, businessmen, and legal personnel grappling with all dimensions of the interests and responsibilities of corporations.