In his latest article for The National, Dr. Omar Al Ubaydli considers the question of Corporate Social Responsibility.
Economic 101: Does Corporate Philanthropy Work?
Amazon CEO Jeff Bezos recently announced plans to donate $2 billion of his personal fortune to charity, following in the footsteps of contemporaries Bill Gates and Warren Buffet, as well as 19th century tycoons Andrew Carnegie and John Rockefeller.
In addition to wealthy individuals, large companies have also become regular philanthropists, with corporate social responsibility (CSR) generating billions of dollars of charitable contributions annually. Why do companies engage in CSR, and does it work?