Roger Kerr has tried repeatedly, in public, to get Dick Hubbard to say exactly what he means by the social responsibilities of business. If he means public companies, says Kerr, then being charitable with other people's money is theft. And Kerr is correct. Hubbard, however, says he's not just talking about giving away money. You're giving money to get something back in return.
Social responsibility means different things to different people.
You have to look at the bigger picture, not just at maximising profits of shareholder wealth. You have to relate to the community, recognise that a number of groupings have a stake in the business and not put shareholders on a pedestal. There are your staff, your customers, your suppliers and you have to factor in their concerns. There's a moral dimension, not just a legal dimension. Arguing with Hubbard about these abstracts is well-nigh impossible.