Abstract

The oil spill in Louisiana has raised a tragic dilemma: is the present system of evaluating listed companies with growing profits and dividends and quarterly, short-term ratings sustainable? No, it is not, because it encourages firms to overlook the expensive technological safety regulations required for deep sea drilling. BP was aware of the risks involved in cutting its safety costs. Corporate Social Responsibility lies inanimate in the waters of the Gulf of Mexico. Only a greater morality on the part of managers and firms can bring it back to life.