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Global Regulation, Global Business Ethics, and Global Common Good: Difference between revisions
Global Regulation, Global Business Ethics, and Global Common Good (view source)
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The global nature of the present-day markets calls for global governance and global regulation, not only concerning ‘hard’ legal rules, but also ‘soft’ rules – standards for behaviour in business ethics, public administration ethics, regulation and self-regulation of lobbying, etc. Certain institutions have been set up and certain codes adopted in both the realms, but the global markets continue to suffer from deficiencies in their governance. The following are of prime importance: | The global nature of the present-day markets calls for global governance and global regulation, not only concerning ‘hard’ legal rules, but also ‘soft’ rules – standards for behaviour in business ethics, public administration ethics, regulation and self-regulation of lobbying, etc. Certain institutions have been set up and certain codes adopted in both the realms, but the global markets continue to suffer from deficiencies in their governance. The following are of prime importance: | ||
* the United Nations (UN) Charter and the special institutions falling under this global institution, such as its Economic and Social Council (ECOSOC), Human Rights Committee, and Security Council; | |||
* world financial institutions: World Bank and International Monetary Fund; | |||
* World Trade Organisation with some global roles; and many others. | |||
On a similar note, initiatives have appeared to unify business ethics globally, such as the Caux Round Table or the Chicago 1994 World Religious Congress with a declared global ethical code. After the terrorist assault on New York and the Afghan and Iraq Wars, the inter-religious discourse is now in a lot less hopeful state than it was mere ten years ago. And the incidences of financial crises (Asia, Argentina, and elsewhere) have shown that not even the WB and IMF were able to predict the occurrence of the crises nor resourced and equipped with adequate measures to tackle their consequences. | On a similar note, initiatives have appeared to unify business ethics globally, such as the Caux Round Table or the Chicago 1994 World Religious Congress with a declared global ethical code. After the terrorist assault on New York and the Afghan and Iraq Wars, the inter-religious discourse is now in a lot less hopeful state than it was mere ten years ago. And the incidences of financial crises (Asia, Argentina, and elsewhere) have shown that not even the WB and IMF were able to predict the occurrence of the crises nor resourced and equipped with adequate measures to tackle their consequences. | ||
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==Sources:== | ==Sources:== | ||
Stone, A. H. W., World Business Environment. Survey 2000–2001 for 80 Countries. http://econ.worldbank.org . | *Stone, A. H. W., World Business Environment. Survey 2000–2001 for 80 Countries. http://econ.worldbank.org . | ||
WB (2004). State-Society Synergy for Accountability. Lessons for the World Bank. WB Working Paper No. 30, Washington, D. C. : World Bank. | *WB (2004). State-Society Synergy for Accountability. Lessons for the World Bank. WB Working Paper No. 30, Washington, D. C. : World Bank. | ||
Stewart, F., Daws, S. (2003). Global Governance: The Case for a World Economic and Social Council. Finance&CommonGood,Geneva, No.15,p.8–10 | *Stewart, F., Daws, S. (2003). Global Governance: The Case for a World Economic and Social Council. Finance&CommonGood,Geneva, No.15,p.8–10 | ||
Masciandro, D. (2001). Globalization and Criminal Sovereign States. Finance&Common Good, No. 8, Geneva. | *Masciandro, D. (2001). Globalization and Criminal Sovereign States. Finance&Common Good, No. 8, Geneva. | ||
[[Category:Economy]][[Category:Global governance]] | |||