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The Moral Basis of Global Capitalism: Beyond the Eclectic Theory

In: The Changing Global Context of International Business

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  • Mark Casson

Abstract

John Dunning’s work has taken a distinctive turn in recent years. He has placed greater emphasis on policy, and addressed much wider issues than before (see, for example, Dunning, 1994). This is particularly evident in his book Global Capitalism at Bay? (2000). The title not only echoes Raymond Vernon’s Sovereignty at Bay (1971), but also conveys Dunning’s concern that capitalism’s survival depends not only on international trade and technology transfer, but also on the efficiency of the institutions that support them. Institutional efficiency depends in turn on the legitimacy conferred by moral systems.

Suggested Citation

  • Mark Casson, 2003. "The Moral Basis of Global Capitalism: Beyond the Eclectic Theory," Palgrave Macmillan Books, in: The Changing Global Context of International Business, chapter 2, pages 5-38, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-50155-3_2
    DOI: 10.1057/9780230501553_2
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    References listed on IDEAS

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    1. Thaler, Richard H & Shefrin, H M, 1981. "An Economic Theory of Self-Control," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 392-406, April.
    2. Neil Hood, 1998. "Business Ethics and Transnational Companies," Palgrave Macmillan Books, in: Ian Jones & Michael Pollitt (ed.), The Role of Business Ethics in Economic Performance, chapter 10, pages 193-210, Palgrave Macmillan.
    3. Casson, Mark, 1991. "The Economics of Business Culture: Game Theory, Transaction Costs, and Economic Performance," OUP Catalogue, Oxford University Press, number 9780198283751.
    4. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August.
    5. Ian Jones & Michael Pollitt (ed.), 1998. "The Role of Business Ethics in Economic Performance," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37979-4, October.
    6. David Reisman, 1990. "Theories of Collective Action," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-38997-7, October.
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    Cited by:

    1. Peter Buckley, 2004. "The Role of China in the Global Strategy of Multinational Enterprises," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 2(1), pages 1-25.
    2. Dunning, John H., 2004. "The contribution of British scholarship to international business studies," International Business Review, Elsevier, vol. 13(2), pages 257-279, April.
    3. Baucus, Melissa S. & Mitteness, Cheryl R., 2016. "Crowdfrauding: Avoiding Ponzi entrepreneurs when investing in new ventures," Business Horizons, Elsevier, vol. 59(1), pages 37-50.

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