Globalization is multifaceted and involves the interaction among businesses, services, governments, and societies beyond national borders. As a result, the flow of foreign direct investment, international trade in goods and services, and the economic interdependence of the nations of the world have been increasing. At the same time, much attention has been paid to the effect of corruption prevalent within many cultures and societies, and its impact on the economies, especially developing economies. This paper examines the relationship between human capital (...) investment, the level of national corruption, and the global economic integration of a nation in developing countries. Based on the data collected from over 60 countries, and building on the FDI and human capital theories, it was found that human capital investment and corruption are related to GEI. It was also found that the level of corruption moderates the relationship between human capital investment and GEI of developing economies. The findings of the study can help to deepen our understanding of GEI and have practical implications for developing countries in terms developing human capital, which plays a critical role in today’s knowledge-based economy. (shrink)

Global Economic Ethic is a stunning set of principles. However, in this response I shall raise some questions concerning its implementation. First, from the perspective of a global Western-based transnational corporation, there are ambiguities in the principles and implementation in practice. Second, from a non-Western cultural perspective, one has to to think about whether and how these principles could be interpreted in different non-European/non–North American cultural settings. Finally, the biggest challenge is whether or how we as individuals, as (...) executives and managers, and as part of the global community work to change political climates of corruption, domination, patronage, and protectionism, climates that hinder or preclude going forward with the adoption and operationalization of these principles everywhere. (shrink)

The Global Economic Ethic Manifesto (" Manifesto") is a moral framework/code of conduct which is both interactive and interdependent with the economic function of the main institutions of the economic system: markets, governments, civil society, and supranational organizations, which lays out a common fundamental vision of what is legitimate, just, and fair in economic activities. The Manifesto includes five universally accepted principles and values: the principle of humanity; the basic values of non-violence and respect for life; the basic values (...) of justice and humanity; the basic values of honesty and tolerance; and the basic values of mutual esteem and partnership. We posit that the Manifesto provides an ethical foundation for explicitly assisting multinational enterprise's (" MNE") executive management and boards of directors to meet the moral failures criticisms associated with the expansion of global capitalism, and similarly how the U. N. Global Compact (" Compact") is focused on addressing complimentary market and institutional failures. In this article, we argue how the Compact and the Manifesto complement each other, explaining how the policies and guidelines of the Compact can now be implemented at the organizational/individual level through a comprehensive human resource management (HRM) plan supporting the ethical framework of the Manifesto. Finally, we have described how the Manifesto completes a comprehensive managerial framework (consisting of both the Compact and the Manifesto) for what we term an "MNE Moral Values-Based Corporate Governance Model." Ultimately, further research is needed in understanding how much impact external and internal influences make on creating a sustainable ethical culture in MNEs. (shrink)

The Global Economic Ethic Manifesto is a credo embodying a set of basic transcultural values aimed at encouraging ethical dealings by business enterprises. However, through analysis of documents and expert interviews, study findings reveal that there has been little adoption and/or implementation of the Ethic Manifesto since its celebrated United Nations launching in 2009. Only sixty-three signatories have signed on, consisting of a majority of individuals, and the remaining twenty-seven are primarily affiliated with European business enterprises. Our study recommendations (...) include tighter integration of the Ethic Manifesto with the Global Compact; an organizational commitment, i.e., by the CEO and board of directors, to the Ethic Manifesto; a broad-based reporting requirement on general progress in meeting the Ethic Manifesto’s principles; and business enterprise use of a logo indicating conformance with the principles of the Ethic Manifesto to stakeholders, all of which could improve business enterprise participation in this civil society initiative. (shrink)

Now more than ever it is clear that the global economy needs to be assessed and governed from a moral point of view. Such moral assessment can, however, come in at least two quite different forms. Political philosophers have tended to focus on a range of issues (e.g. poverty, human rights, or general distributive justice) whose basic moral importance is “external” to and wholly independent of how the global economy is socially organized. The result has been relative neglect (...) of a quite different class of “internal” moral issues, which do in various ways depend on the complex legal and social relations that now organize the global economic scene. These include a dizzying array of politically important but poorly understood fairness concerns—concerns such as “non-discrimination,” “special and differential treatment,” “fair trade,” “fair play,” “fair competition,” “level playing fields,” “equitable growth,” “fair wages,” and “exploitation.” My aim in this discussion is to suggest a framework for understanding how several such fairness notions might be systematically connected and have an internal rather than external character. Specifically, I suggest that the content and internal nature of several such fairness notions can be explicated in terms of a more fundamental idea of “structural equity.” From the point of view of political philosophy, the issue turns on the sorts of principles that might ground moral assessment of the global economy. External principles are justified and apply quite independently of what the global economy and its social organization happens to be like. Humanitarian principles are a natural example: in asking whether or not the current global economy is set up so as to bring as many people as possible out of poverty, the assumed goal of poverty reduction can be seen as important and morally necessary quite independently of how the global economy is institutionally organized, and indeed independently of its very existence. Internal principles, by contrast, are not justified, and do not apply, independently of the global economy and its organizing institutions.. (shrink)

Take two concepts, both appealing, but each elusive and difficult to define, and you have the recipe for a challenging volume. Simone Raudino and Arlo Poletti have risen to the challenge, and the r...

This article responds to the review of Hemphill and Lillevik, “The Global Economic Manifesto: A Retrospective.” It aims to contribute to the worldwide discussion of global accepted norms and values of corporate behavior by addressing universal ethical principles and implementation strategies. A focus is set on the means of specifying values to serve the action orientation of an organization and its management. Since external normative expectations rise in context of the upcoming Post-2015 Development Agenda, corporate responses need to (...) take local specifics as well as international accepted norms into account. Therefore, a distinctive implementation design is outlined. Key strategic steps contain elements such as awareness of common values, differing consequences due to cultural environments and economic conditions, integration of practical experience to gain impact-related insights, and fostering global leadership education. Consequently, corporate value management approaches and Post-2015 Sustainable Development Agenda are connected through universal values. (shrink)

Metz holds that we can use African communal ethics to constitute global economic practices such as appropriation, production, distribution and consumption in such a way that promotes harmonious relations. In this article, I will show that Metz’s reformist approach to constituting the global economic practices is problematic as it fails to deal with the fundamental problem that pertains to a racialised world order that is structurally configured by coloniality of being. I will show that reformist approaches such as (...) Metz’s use of African communal ethics to constitute global economic practices in a way that promotes harmonious relations are undesirable attempts that are opposed and curtailed by a structural racialised logic/ontology of the world that governs and supervises the evolution of the world economic structures and practices in a way which undermines harmonious relations and in a way which causes economic marginalisation and impoverishment of historically disadvantaged indigenous Africans. (shrink)

Moral universalism centrally involves the idea that the moral assessment of persons and their conduct, of social rules and states of affairs, must be based on fundamental principles that do not, explicitly or covertly, discriminate arbitrarily against particular persons or groups. This general idea is explicated in terms of three conditions. It is then applied to the discrepancy between our criteria of national and global economic justice. Most citizens of developed countries are unwilling to require of the global (...) economic order what they assuredly require of any national economic order, for example, that its rules be under democratic control, that it preclude life-threatening poverty as far as is reasonably possible. Without a plausible justification, such a double standard constitutes covert arbitrary discrimination against the global poor. Key Words: contextualism • corruption • discrimination • Rawls • resource exports • world poverty. (shrink)

During the late 1960s, the long post-war economic boom which had characterised the advanced capitalist countries began to fade away. In its wake came an equally long era of stagnation, decline, and political and economic turbulence. Unemployment, inflation, falling profitability, business failures and bankruptcies were the new order of the day, and it became commonplace to see fearful headlines about the possible collapse of the global financial system or even of accumulation itself.

O'Brien provides a critical assessment of Ernest Mandel's 1975 monograph Late Capitalism. In so doing, he offers a historical narrative that puts into question Mandel's framing of 'waves' of capitalist development as a process of capital accumulation that was dependent upon uneven development in the Third World. O'Brien starts by problematising Mandel's argument that an initial concentration of money, capital and bullion in the hands of Europeans explains combined and uneven development. He goes on to demonstrate that Mandel's notion of (...) imperialism as a necessary conduit for the flow of surplus capital from industrialising Europe does not stand up to the historical evidence. In fact, O'Brien maintains an alternative thesis, namely that these marginalised regions were insuffciently penetrated by European capital. (shrink)

This article examines Rawls's and Scanlon's surprisingly undemanding contractualist accounts of global moral principles. Scanlon's Principle of Rescue requires too little of the world's rich unless the causal links between them and the poor are unreliable. Rawls's principle of legitimacy leads him to theorize in terms of a law of peoples instead of persons, and his conception of a people leads him to spurn global distributive equality. Rawls's approach has advantages over the cosmopolitan egalitarianism of Beitz and Pogge. (...) But it cannot generate principles to regulate the entire global economic order. The article proposes a new cosmopolitan economic original position argument to make up for this lack in Rawls's Law of Peoples. (shrink)

Thomas Pogge has argued, famously, that ‘we’ are violating the rights of the global poor insofar as we uphold an unjust international order which provides a legal and economic framework within which individuals and groups can and do deprive such individuals of their lives, liberty and property. I argue here that Pogge’s claim that we are violating a negative duty can only be made good on the basis of a substantive theory of collective action; and that it can only (...) provide substantive ethical guidance when combined with an account of how collective action gives rise to forward-looking responsibility and/or accountability on an individual level. I consider accounts of these two topics given in work by Peter French and Christopher Kutz; and I argue that neither of them give Pogge what he needs. Although there is a sense in which 'we' can be said to be violating the rights of the worst off, the sense in which this is true does not generate any plausible action-guiding claims for individuals. (shrink)

This paper develops John Rawls’s famous objection to the system of natural liberty as against the contemporary system of international trade. Even as “dynamic” policies have proven successful in several recent development success stories, the current system enforces a “static,” laissez-faire system of comparative advantage that threatens to consign poorly-endowed countries to a low-productivity, low-income destiny in agriculture and raw materials. I discuss two very different fairness arguments in favor of allowing and encouraging “dynamic,” pro-development polices: an argument from “structural (...) equity” and an argument from “equity of fortune.” I suggest that the former is of more central importance, and that the difference between the two kinds of fairness argument shows why Rawls’s original objection to the system of natural liberty does not imply “luck egalitarianism.”. (shrink)

_ Source: _Page Count 21 This paper develops John Rawls’s famous objection to the system of natural liberty as against the contemporary system of international trade. Even as “dynamic” policies have proven successful in several recent development success stories, the current system enforces a “static,” laissez-faire system of comparative advantage that threatens to consign poorly-endowed countries to a low-productivity, low-income destiny in agriculture and raw materials. I discuss two very different fairness arguments in favor of allowing and encouraging “dynamic,” pro-development (...) polices: an argument from “structural equity” and an argument from “equity of fortune.” I suggest that the former is of more central importance, and that the difference between the two kinds of fairness argument shows why Rawls’s original objection to the system of natural liberty does not imply “luck egalitarianism.”. (shrink)

One of the main accusations directed toward globalization is that it deepens the gap between the developed and developing countries dooming them to eternal backwardness. The article demonstrates that the actual situation is very different. It is shown that this is due to globalization that the developing countries are generally growing much faster than the developed states. The World System core starts weakening while its periphery gains strength. At the same time there is a continuing divergence between the main bulk (...) of developing countries and the group of the poorest developing states. The article also explains why globalization was bound to lead to an explosive rise of many developing countries and relative weakening of the developed economies. In the forthcoming decades this trend is likely to continue. It is also demonstrated that this convergence constitutes a necessary condition for the ongoing and forthcoming change of political and power balance in the World System. We also show how and why it manifests itself in the US current and possible future policy. (shrink)

This chapter canvasses the debate between John Rawls and his cosmopolitan critics over the demands of economic justice that arise beyond state borders. In particular, it examines the merits of four defenses of the position Rawls advances in The Law of Peoples that justice does not call for a cross-society egalitarian distributive principle: first, that such a principle would fail to hold states responsible for their economic position; second, that because societies do not have a fundamental interest in wealth, they (...) would not favor such a principle; third, that satisfying such a principle would not be feasible; and, fourth, that appeal to Rawls's constructivist methodology can explain why the egalitarian principles he takes to be suited for the state context are not suited for the international context. The chapter concludes that upon careful examination, none of these defenses succeed in plausibly motivating Rawls's rejection of global egalitarianism. (shrink)

This article raises the issue of confidence in the global system, especially in its ability to deliver the goods: both material and moral. It reflects our concern, and Ronald Preston's concern, that faith insights should be incorporated into the substance of our economic policies. In response, two discrete but inter-related strategies are pursued. The first is called ‘radical participation seeking consensus’. The second is the constant effort at many levels to balance and counterbalance power. Without the one we shall (...) not draw out the wisdom we require. Without the other, before we even seek that wisdom, we shall demonstrate that we are not wise. (shrink)

Due to the novel coronavirus pandemic, the lockdown engendered has had a vicious impact on the global economy. This analysis’ prime intention is to evaluate the impact of the United States’ economic and health crisis as a result of COVID-19 on its financial stability. Additionally, the investigation analyzed the spillover impact of the worldwide economic slowdown experienced by COVID-19 on the United States’ financial volatility. The study applied an autoregressive distributed lag model and discovered that the economic and health (...) crises that occurred in the United States portentously upset the future expectations of its investors. Conspicuously, the health crisis in Spain and Italy were ominous spillovers of the United States’ financial instability in the short-run. Likewise, an economic crisis ensued in the United Kingdom because of COVID-19 causing spillover for the United States markets’ financial instability. The examination evaluated that Asian and African nations’ economic crises perilously affects the United States’ financial stability. The study determined that financial instability occurred in the United States due to its own economic and health crises persisted for a longer period than financial disequilibrium that occurred in other nations. The analysis suggested some strategies of smart lockdown that the government of the United States and other nations should follow to restart the economic cycle through tighter controls to minimize losses by following the steps of preparing a lockdown checklist, monitoring completion of lockdown tasks, and complete a close-down stock take or count. (shrink)

The article offers forecasts of the geopolitical and geo-economic development of the world in the forthcoming decades. One of the main accusations directed toward globalization is that it deepens the gap between the developed and developing countries dooming them to eternal backwardness. The article demonstrates that the actual situation is very different. It is shown that this is due to the globalization that the developing countries are generally growing much faster than the developed states, the World System core starts weakening (...) and its periphery begins to strengthen. At the same time there is a continuing divergence between the main bulk of developing countries and the group of the poorest developing states. The article also explains why the globalization was bound to lead to the explosive rise of many developing countries and the relative weakening of the developed economies. In the forthcoming decades this trend is likely to continue (though, of course, not without certain interruptions). It is also demonstrated that this convergence constitutes a necessary condition for the next technological breakthrough. (shrink)

The article offers forecasts of the geopolitical and geo-economic development of the world in the forthcoming decades. One of the main accusations directed toward globalization is that it deepens the gap between the developed and developing countries dooming them to eternal backwardness. The article demonstrates that the actual situation is very different. It is shown that this is due to the globalization that the developing countries are generally growing much faster than the developed states, the World System core starts weakening (...) and its periphery begins to strengthen. At the same time there is a continuing divergence between the main bulk of developing countries and the group of the poorest developing states. The article also explains why the globalization was bound to lead to the explosive rise of many developing countries and the relative weakening of the developed economies. In the forthcoming decades this trend is likely to continue. It is a.. (shrink)

The effective functioning of a modern enterprise necessitates the awareness of the owners and managers of its strategic orientations, the state of the internal and external environment, its competitive advantages, entrepreneurial potential and development prospects. A well-built business model of the enterprise helps to face these urgent and permanent challenges. However, the formation of a real business model of the enterprise necessitates mastering of theoretical and methodological bases and implementation of long-term practical measures in the field of assessment, shaping, organization (...) and control. This study offers a comprehensive business model of the enterprise that systematically identifies key factors which influence business activity of the enterprise and provide value logic for doing business in the global economic environment. (shrink)

In this paper I explore the emergence of women's organizations and feminist consciousness in the twentieth century in the English-speaking (Commonwealth) Caribbean. The global ideas concerning women's equality from the 1960s onwards clearly informed the initiatives taken by both women and states of the Caribbean. None the less, the paper illustrates, by use of examples, the interlocked nature of women's struggles with the economic, social and political issues which preoccupy the region's population. I examine in greater detail two case (...) studies of women's activism and mobilization around the impact of structural adjustment policies in the two territories of Jamaica and Trinidad and Tobago. By tracing the connections between and among the organizations and initiatives of women in the region, the paper situates the feminist movement in the English-speaking Caribbean as a continuously evolving one, fusing episodic struggles in different territories, engaging women of different classes and groups, and continuously building on past experience. (shrink)

A joyless irony of our time is that, just as Marxism as political doctrine has been declared dead, Marxist economics has never been better argued and empirically defended. Bob Brenner's The Economics of Global Turbulence is a good example. As an overview of the global economy from World War Two to the present it is unequalled. Here is the historian at work, leaving few stones unturned and the exhaustive treatment makes for daunting reading. But an exploration (...) of fifty years of global economy is not a stroll through the daisies and the serious reader comes prepared for a long hike. (shrink)

Facing a near-death experience naturally pushes people to re-examine their basic moral values. During the recent global economic melt-down, calls to solve the concomitant ‘moral’ crisis come in from all fronts. The presumption is that we need business ethics courses to teach our business students to learn to take the moral high-road; we need ethics pledges and codes of ethics to teach business students to do the right thing. But in reality, what impact can a business ethics class have (...) on business people in the real world of tough choices and intense competition? It is my contention that if we look at the teaching of business ethics from the traditional Foundational Platonic perspective, we over-promise and under-deliver. By contrast, a Post- Foundational perspective gives us a pragmatic and viable picture of business ethics pedagogy that can make a real difference. (shrink)

There is general agreement that the principles espoused by the Global Economic Ethic Manifesto are to be commended. Despite this, the expectations of wide adoption of the Ethic Manifesto that were expressed at the 2009 launch have proved to be overly optimistic as Hemphill and Lillevik discovered in their study. They propose a number of recommendations to address some of the Ethic Manifesto’s limitations and increase adoption of it, particularly by organizations. However, it is not clear that, even if (...) all their recommendations were to be fully implemented, organizational adoption rates of the Ethics Manifesto will reach the same level as those of the UN Global Compact. For this to occur, the Ethics Manifesto must move beyond providing a moral compass to individuals in order to inform organizational systems and structures in a meaningful way. (shrink)

Economic Imperatives and Ethical Values in Global Business offers an in-depth analysis of the Sullivan Principles' impact on the interactions of foreign corporations with South Africa. Appearing for the first time in the United States, this book inteprets how the experience of the Sullivan Principles might help large multinational corporations cope with issues of human rights, living and working conditions of workers, environmental protection, and sustainable growth in their overseas manufacturing operations.

Research on fair trade has flourished over the past decade as fair trade food products have gained popularity amongst consumers in many developed economies. This study examines the effects of recessionary economic conditions on fair trade consumers’ purchasing behaviour. An online survey was administered to 306 fair trade consumers from Canada, the United Kingdom and the United States of America. The results reveal a discrepancy among fair trade consumers as only consumers that purchase fair trade on an occasional basis adhered (...) to established consumer behaviour norms, i.e. decreasing their purchases of fair trade products and becoming significantly more price aware. Respondents who actively consume fair trade generally remained loyal to their purchase. While some active consumers altered their purchasing behaviour, this phenomenon was not common amongst this group as no statistically significant changes were observed. Differences were also noted among the three countries as the Canadian and US fair trade consumers significantly decreased their consumption of fair trade as a result of the recession, whereas the UK consumers did not. In addition to the research results, theoretical and managerial implications will be discussed along with future research directions. (shrink)

This article reflects on the philosophical implications of the crisis for the nation-state and culture in relation to business and management. The global triumph of the neo-liberal economic model in the 1990s and early 2000s brought with it an ontological re-conception of the nation-state in its relationship to business, the market and regulation: the nation was viewed as a ‘brand-state’ analogous to a company. Much of the successful appeal of the ‘brand-state’ was based on its annexation of the Enlightenment (...) discourse of ‘cosmopolitanism’: it appeared that a world consisting of interlinked economies represented a fulfilment of the Kantian utopian project of detachment and perpetual peace. The economic crisis has brought this discourse into question. The article assesses whether lessons learnt from the crisis contain prospects for a post-teleological re-conceptualisation of the nation-state beyond the ‘brand-state’ towards a ‘cosmopolitan solidarity’ in which nation-states co-operate to ameliorate its worst effects. (shrink)

A comparative historical perspective shows how globalization and the specificities of China’s rapid growth era limit its hegemonic potential in the twenty-first century global economy. Although state capitalism and openness to foreign capital facilitated China’s economic transformation, interactions among three forms of capital—state, private, and foreign—have produced developmental dynamics that constrain China’s capacity to assume the position of the world’s economic hegemon. These include the compromised competitiveness of China’s corporate sector due to the domination of state-owned enterprises, limits on (...) the ability of Chinese firms to develop leading transnational corporations, and early openness to and continued dependence on foreign capital. Moreover, the party-state’s efforts to ameliorate these constraints arouse external suspicion rather than support a Chinese-led hegemonic order based on consent and shared interests. These historically conditioned realities should temper expectations that China is converging teleologically toward a familiar hegemonic role in the international economy. (shrink)

A sequel to Global Trade Analysis: Modeling and Applications, this new volume presents the technical aspects of the Global Trade Analysis Program's global dynamic framework and its applications within important global policy issues. The book covers a diverse set of topics including trade reform, growth, investment, technology, demographic change and the environment. Environmental issues are particularly well-suited for analysis with GDyn, and this volume covers its uses with climate change, resource use and technological progress in agriculture. (...) Other applications presented in the book focus on integration issues such as rules governing foreign investment, e-commerce regulations, trade in services, harmonization of technical standards, sanitary and photo-sanitary regulations, streamlining of customs procedures, and demographic change and migration. (shrink)

This paper examines how institutions for managing environmental resources change over time with economic development and the seriousness of various environmental problems. Different problems tend to be more serious at different levels of development requiring different approaches. Traditional systems of management in poorer countries were often effective at managing common good resources, and institutions that replicate their advantages may work at higher levels of economic development as well. Problems of inter-level relations are also be considered.