1. FRIEDMAN, The Social Responsibility of Business Is To Increase Its Profits, NY Times SM17 (Sept. 13, 1970).
2. For my view on this debate, as well as a review of the extensive literature, see AVI-YONAH, Corporations, Society and the State: A Defense of the Corporate Tax, 90 Va. L. Rev. 1193 (2004).
3. For a review of this debate see AVI-YONAH, The Cyclical Transformations of the Corporate Form: A Historical Perspective on Corporate Social Responsibility, 30 Del. J. Corp. L. 767 (2005), and for previous literature see, e.g., JENSEN, Value Maximization, Stakeholder Theory, and the Corporate Objective Function, 12 Bus. Ethics Q. 235 (2002); see also JENSEN/MECKLING, The Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure, 3 J. Fin. Econ. 305 (1976). For different perspectives on CSR in general see also PHILIPS, Reappraising the Real Entity Theory of the Corporation, 21 Fla. St. U. L. Rev. 1061 (1994) WELLS, The Cycles of Corporate Social Responsibility: An Historical Retrospective for the Twenty-first Century, 51 Kansas L. Rev. 77 (2002); ALLEN, Our Schizophrenic Conception of the Business Corporation, 14 Cardozo L. Rev. 261 (1992); WILLIAMS, Corporate Social Responsibility in an Era of Economic Globalization, 35 UC Davis L. Rev. 705 (2002); CHEN/HANSON, The Illusion of Law: The Legitimating Schemas of Modern Policy and Corporate Law, 103 Mich. L. Rev. 1 (2004).
4. See AVI-YONAH, Cyclical Transformations, supra note 3.
5. See AVI-YONAH, id., and the literature cited therein.