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The New Ethical Values of the Relational Market Economy: Value Change in the Private Business World and the Movement Towards Sustainable Development Goals in Business and Economics

In: Cooperation in Value-Creating Networks

Author

Listed:
  • Jacob Dahl Rendtorff

    (Roskilde University)

Abstract

There is a need for a relational economy in Europe. But what does this relational economy look like? Is it different from the relational economy in China and Asia? Looking at Denmark as a small country in Europe, we can see the emergence of a set of new ethical values for a relational market economy. Combined with the neoliberal competition state, the Danish economy follows the European and global trends of liberalization of the market economy. Following the movement of social responsibility, ethical business, and sustainable development goals, there is an increasing tendency to consider ethics and responsibility as part of good corporate citizenship in a knowledge and network economy. So, we can perceive a value change toward relational dimensions of the economy: an important part of a move towards sustainable development goals in business and economics. This can be combined with the old idea of an economy of “constant care” as an indication of the relational dimension of the economy.

Suggested Citation

  • Jacob Dahl Rendtorff, 2024. "The New Ethical Values of the Relational Market Economy: Value Change in the Private Business World and the Movement Towards Sustainable Development Goals in Business and Economics," Relational Economics and Organization Governance, in: Josef Wieland & Stefan Linder & Jessica Geraldo Schwengber & Adrian Zicari (ed.), Cooperation in Value-Creating Networks, pages 21-36, Springer.
    • Handle: RePEc:spr:recchp:978-3-031-50718-2_2
    DOI: 10.1007/978-3-031-50718-2_2
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