The Role Of Law And Ethics In The Globalized Economy

Preface International conferences are not organized overnight—especially not when high ranking personalities from politics, business and academia should be offered an adequate platform for addressing and discussing highly relevant contemporary issues. The conference on “The Role of Law and Ethics in the Globalized Economy,” which took place on May 22 and 23, 2008 in the Bavarian Academy of Sciences and Humanities in Munich, was no exception. When the first preparations started at the end of 2006, neither the subprime crises nor the general crises of the global financial system, whose shock waves have rocked the financial businesses in subsequent months, were known; nor were they predictable or even imaginable. Based on our monitoring of the globalization process and its apparent impact—not only on the economic and technological environment, but also on the social en- ronment—it was appropriate for the conference to begin by serving as a platform for analysing the status quo of the process of globalization, as relevant to politics, business and academia, and for exploring how the interest groups in those domains cope with the challenges of globalization. In the end, however, the purpose of the conference was to produce proposals for conditions for “upwards” global compe- tion, meaning that minimum conditions should be worked out to enable people to live and labour humanely. Such conditions would be those which should help avoid otherwise inevitable frictions in society, both nationally and internationally.

Globalization has become a common phenomenon, yet one that many people experience as a threat not only to their economic existence, but also to their cultural and moral self-image. This volume takes an interdisciplinary approach to provide a theoretical overview of how business ethics deals with the phenomenon of globalization. The authors first examine the origins and development of globalization and its interaction with business ethics, before discussing the impact on and role of national and multinational corporations. The book goes on to examine the relationship between industrialized and developing countries, and explores the place of ethics in globalized markets.

This book provides comprehensive and, above all, business focused guidance on the fundamentals of business law and how they should be integrated into ethical and effective business decisions. It concentrates on legal principles and thereby is able to articulate the impact of global business law and its international applications providing a comprehensive overview of the legal and ethical principles which both facilitate and regulate corporate business. This is an ambitious undertaking, yet arguably no more ambitious than the projects undertaken by global business leaders making business decisions around the world. The author combines the expertise of a long-term blue chip law background with the insights of an experienced business educator. Law and Ethics in Global Business is both a comprehensive course book for MBA study and an invaluable business reference source for any executive involved in global business.

The United Nations is commemorating the 25th anniversary of the 1986 Declaration on the Right to Development, which proclaimed the right to be: 'an inalienable human right by virtue of which every human person and all peoples are entitled to participate in, contribute to, and enjoy economic, social, cultural and political development, in which all human rights and fundamental freedoms can be realized'. The UN now aims to mainstream the right into its policies and operational activities, and is reviewing prospects for an internationally-binding legal instrument. The evolution of the right to development, however, has been dominated by debates about its conceptual validity and practical ramifications. It has been hailed as the cornerstone of the entire human rights system and criticized as a distracting ideological initiative. Questions also persist about the role of the right in reforming the international economic order. This book examines the legal and moral foundations of the right to development, addressing the major issues. It then considers the right to development in the global economy, noting the challenges of globalization and identifying key principles such as differential treatment of developing countries, participation and accountability. It relates the right to broad objectives such as the Millennium Development Goals, the human rights-based approach to development, and environmental sustainability. Implications for international economic law and policy in the areas of trade, development finance and corporate responsibility are assessed. The conclusion looks to the legal and ethical contributions - and limitations - of the right to development in this new context. With an academic and professional background in international law, human rights and moral theology, the author brings a unique interdisciplinary focus to this timely project.

Within contemporary society, globalization has emerged as a key concern at the centre of ethical, legal and policy debates relating to health care. Conflicts between public interests and individual rights, the challenge of regulating health professionals and access to health services, and the effects of a global market all feature prominently in these discussions. As a result of globalization, these issues can no longer be understood solely within the political boundaries that define traditional notions of individuals and communities. Rather, solutions demand a global conception of rights and obligations, which in turn requires new approaches to health policy formulation and a reevaluation of existing ethical and legal frameworks. In essence, the impact of globalization on human health is testing the robustness of modern regulatory systems, legal doctrines and ethical paradigms. PUBLIC HEALTH: DEVELOPING GLOBAL CONCERNS The interconnectedness of the global economy presents new challenges in public health. While globalization has facilitated improvements in health care, it has also created new hazards and avenues for the exploitation of vulnerable persons. It is becoming increasingly apparent that both national and international responses are required. Indeed, as the chapters in this section convey, public health is rightly a global concern. Globalization has led to a sharing of both risks and responsibilities in public health. Belinda Bennett reminds us of the ease with which infectious diseases can spread within the global community, given the speed of modern travel and trade.

Poverty, inequality, and dispossession accompany economic globalization. Bringing together three international law scholars, this book addresses how international law and its regimes of trade, investment, finance, as well as human rights, are implicated in the construction of misery, and how international law is producing, reproducing, and embedding injustice and narrowing the alternatives that might really serve humanity. Adopting a pluralist approach, the authors confront the unconscionable dimensions of the global economic order, the false premises upon which they are built, and the role of international law in constituting and sustaining them. Combining insights from radical critiques, political philosophy, history, and critical development studies, the book explores the pathologies at work in international economic law today. International law must abide by the requirements of justice if it is to make a call for compliance with it, but this work claims it drastically fails do so. In a legal order structured around neoliberal ideologies rather than principles of justice, every state can and does grab what it can in the economic sphere on the basis of power and interest, legally so and under colour of law. This book examines how international law on trade and foreign investment and the law and norms on global finance has been shaped to benefit the rich and powerful at the expense of others. It studies how a set of principles, in the form of a New International Economic Order (NIEO), that could have laid the groundwork for a more inclusive international law without even disrupting its market-orientation, were nonetheless undermined. As for international human rights law, it is under the terms of global capitalism that human rights operate. Before we can understand how human rights can create more just societies, we must first expose the ways in which they reflect capitalist society and how they assist in reproducing the underlying terms of immiseration that will continue to create the need for human rights protection. This book challenges conventional justifications of economic globalization and eschews false choices. It is not about whether one is "for" or "against" international trade, foreign investment, or global finance. The issue is to resolve how, if we are to engage in trade, investment, and finance, we do so in a manner that is accountable to persons whose lives are affected by international law. The deployment of human rights for their part must be considered against the ubiquity of neoliberal globalization under law, and not merely as a discrete, benevolent response to it.

Selected as an Outstanding Academic Title by Choice Magazine in 2014! This book aims to deepen the student’s understanding of the complex ethical challenges that businesses face in an increasingly globalized world. As the world moves towards greater interdependence, it has been demonstrated that globalization is linked to economic growth. This raises a critical question: as a key player in fostering economic growth, how does the multinational corporation function as a moral agent? Global Capitalism, Culture, and Ethics offers a sophisticated analysis of theoretical ethical issues such as universalism versus pluralism; the connection between law and morality; the validity of a corporate social agenda; and the general parameters of moral responsibilities for multinational corporations. With these foundational issues addressed, the book proceeds to analyze a number of specific controversies such as the proper scope of political activism, disinvestment, environmental sustainability, and responsible sourcing from low wage countries. The analysis of globalization is not confined to a treatment of the moral obligations of multinational corporations, but also reviews the history of global capitalism, the interdependence between governments and multinational corporations, and the beneficial and harmful effects of globalization on social welfare. Weaving together themes from economics, history, philosophy, and law, this book allows the reader to appreciate globalization from multiple perspectives. Its theoretical cogency and uncompromising clarity make it a rewarding read for students interested in issues of ethics and globalization.