Updating the Critical Perspective on Corporate Social Responsibility

Abstract This paper argues that Corporate Social Responsibility (CSR) is a key element of the new neo‐liberalism as it searches for both legitimacy and new sources of innovation. Rather than simply being a fraud or a drain on resources as CSR is often portrayed, we argue that it is one of a suite of practices that corporations are deploying as they seek to shift the nature of social regulation away from collective to more individual solutions. While the criticism that CSR is corporate propaganda has purchase, we explore a deeper development. This development is one wherein as the old ways of capitalist regulation were surpassed in the 1970s and 1980s new social practices such as CSR, Human Resource Management, ethical marketing etc. were deployed as a way of engineering new forms of identity, new expectations of individuals and institutions and new sources of legitimacy and social value. Social criticism needs to take this development more seriously (than the propaganda view) since it frames CSR as a predatory facet of this new neo‐liberalist tendency.