Businesses that believe they must act in a “socially responsible” way often shoot themselves in the foot.

That was the gist of the argument Fred Smith of the Competitive Enterprise Institute offered during today’s presentation to the John Locke Foundation’s Shaftesbury Society.

In the video clip below, Smith discusses problems that arise when a company tries to sway public opinion.

3:15 p.m. update: Watch the full 46:21 recording by clicking the play button below.

You’ll find other John Locke Foundation video presentations here.