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The Multinational Corporation and Social Justice: Experiments in Supranational Governance

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  • Brent McClintock

Abstract

The multinational corporation (MNC) is dichotomous in nature. While on the one hand it is a vehicle for private capital accumulation, when socially-embedded it may serve as a means to further social provisioning and social justice. A social economics approach to the MNC is developed to incorporate both private and social transaction costs in international production and trade where the divergence in these costs may require collective action to mitigate the effects of social dislocation. These issues are illustrated by experiments in corporate codes of conduct related to child labor and environmental sustainability. Since corporate codes may be insufficient to socially embed the activities of MNCs, efforts to develop supranational governance mechanisms to better achieve social justice are also considered.

Suggested Citation

  • Brent McClintock, 1999. "The Multinational Corporation and Social Justice: Experiments in Supranational Governance," Review of Social Economy, Taylor & Francis Journals, vol. 57(4), pages 507-522.
    • Handle: RePEc:taf:rsocec:v:57:y:1999:i:4:p:507-522
    DOI: 10.1080/00346769900000019
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    Cited by:

    1. Wilfred Dolfsma & Deborah Figart & Robert McMaster & Martha Starr, 2012. "Promoting Research on Intersections of Economics, Ethics, and Social Values: Editorial," Review of Social Economy, Taylor & Francis Journals, vol. 70(2), pages 155-163, June.
    2. Neumayer, Eric & de Soysa, Indra, 2005. "Trade Openness, Foreign Direct Investment and Child Labor," World Development, Elsevier, vol. 33(1), pages 43-63, January.
    3. Chen, Lujie & Olhager, Jan & Tang, Ou, 2014. "Manufacturing facility location and sustainability: A literature review and research agenda," International Journal of Production Economics, Elsevier, vol. 149(C), pages 154-163.
    4. Muhammad Islam & Craig Deegan, 2010. "Media pressures and corporate disclosure of social responsibility performance information: A study of two global clothing and sports retail companies," Accounting and Business Research, Taylor & Francis Journals, vol. 40(2), pages 131-148.
    5. Muel Kaptein & Mark Schwartz, 2008. "The Effectiveness of Business Codes: A Critical Examination of Existing Studies and the Development of an Integrated Research Model," Journal of Business Ethics, Springer, vol. 77(2), pages 111-127, January.

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