Role of Business in the Modern World (Progress, Pressures and Profits for the Market Economy)

It is now a widely held view that a new era has dawned in which businesses must adopt a new conception of their mission, purpose and conduct, by endorsing and implementing corporate social responsibility. In The Role of Business in the Modern World, Professor David Henderson argues if we ask businesses to achieve broader social goals, we risk undermining the very system in which business activity leads to opportunity and prosperity. Professor Henderson describes the unprecedented material progress that has occurred in the last century as a result of the wide-ranging entrepreneurial opportunities and competitive pressures that exist within a market economy. The material prosperity created by the activities of business is threatened by the 'global salvationist consensus' that has arisen in recent years and which seeks to change the role of business via the doctrine of corporate social responsibility. Professor Henderson shows that this consensus is based upon a set of fallacious beliefs about the nature of capitalism, profiteering and business enterprise.