challenges to this narrow view of corporate social responsibility are familiar by this point. A variety of market failures, many of the best known of which involve environmental issues, point to the inadequacy of market solution. One example is the existence of externalities, the textbook example of which is environmental pollution. Since the
"costs" of such things as air pollution, ground-water contamination and depletion, soil erosion, and nuclear waste disposal are typically borne by parties "external" to the economic exchanges cannot guarantee optimal results.