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Is Global Capitalism Morally Defensible?

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  • John H. Dunning

Abstract

This article first makes the case for responsible global capitalism, and the role of belief systems in advancing or inhibiting economic efficiency and socially acceptable behaviour. It then goes on to illustrate how the content and effectiveness of three contemporary elements of the global economy, viz , corporate social responsibility, the achievement of the millennium development goals and the opening up of centrally planned economies to market forces, are being, or might be, effected by the appropriate `bottom up' and `top down' incentive structures and enforcement mechanisms devised by the society of which they are part. Copyright 2005, Oxford University Press.

Suggested Citation

  • John H. Dunning, 2005. "Is Global Capitalism Morally Defensible?," Contributions to Political Economy, Cambridge Political Economy Society, vol. 24(1), pages 135-151, August.
    • Handle: RePEc:oup:copoec:v:24:y:2005:i:1:p:135-151
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    Cited by:

    1. Fara Azmat & Ramanie Samaratunge, 2009. "Responsible Entrepreneurship in Developing Countries: Understanding the Realities and Complexities," Journal of Business Ethics, Springer, vol. 90(3), pages 437-452, December.
    2. Spagnoletti, Belinda & O’Callaghan, Terry, 2013. "Let there be light: A multi-actor approach to alleviating energy poverty in Asia," Energy Policy, Elsevier, vol. 63(C), pages 738-746.
    3. Trąpczyński, Piotr & Halaszovich, Tilo F. & Piaskowska, Dorota, 2020. "The role of perceived institutional distance in foreign ownership level decisions of new MNEs," Journal of Business Research, Elsevier, vol. 108(C), pages 435-449.
    4. Islam, Muhammad Azizul & Deegan, Craig & Haque, Shamima, 2021. "Corporate human rights performance and moral power: A study of retail MNCs’ supply chains in Bangladesh," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 74(C).

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