Corporate social responsibility "may work under certain conditions," writes Deborah Doane, but CSR efforts "are highly vulnerable to market failures, including such things as imperfect information, externalities, and free riders. Most importantly, there is often a wide chasm between what's good for a company and what's good for society as a whole." Although CSR efforts "offer good PR," sometimes they're just that.

After the industry group Pharmaceutical Research and Manufacturers of America (PhRMA) issued a voluntary code of conduct for direct-to-consumer (DTC) drug advertising, drug companies "are hoping to skirt the issue" by "getting more executives and experts quoted in major newspapers and magazines and sitting acros

Although their city hosted last month's White House conference on "cooperative conservation," the St. Louis Post-Dispatch isn't impressed.