ADMS 3930 Lecture Notes - Lecture 10: Corporate Social Responsibility, Sport Utility Vehicle, Market Failure

• School: York University
• Department: Administrative Studies
• Course: ADMS 3930
• Professor: Hope Shamonda

Document Summary

There is a narrow view of csr which is to maximize profits. Thirdly, environmental harm involves a distinction between individual decisions and group consequences. Such market failures raise serious concerns for the ability of economic markets to achieve a sound environmental policy. It is not enough to repair those market failures due to for instance of the first generation problem. Some goods are so important that they should be exempt from the preference optimizing trade offs that occur within markets. Governmental regulations were seen as the better way to respond to environmental problems. Only the individuals who faced harm could raise legal challenges towards water and air pollution. The legal approach placed the burden on the person who was harmed, offered compensation for the harm only after the fact. There are few policies helped saving life of endangered plants and animals. As consumers, individuals could demand environmentally friendly products in the marketplace. As citizens, individuals could support environmental legislation.