That business has a responsibility to society beyond the making of profits is by now a commonplace, though still far from universally granted idea. Businessmen have often been confused, however, by the exact nature of their responsibility to improve society and how to carry it out. Last week the Committee for Economic Development, a prestigious group of top executives and academics, tried to cut through the confusion. After long and lively debate, its 50-man research and policy committee adopted a statement that lays down some principles and guidelines for corporate social action. Among them:
> The "constituency" of a large...
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