Back to the Future
Chapter 12: In Search of a Global Moral Architecture
INTRODUCTION This chapter is designed to fulfil two main purposes. The first is to present the main findings of my edited volume Making Globalization Good, published by Oxford University Press in 2003. In that volume, 14 prominent economists, religious leaders, political scientists, statespersons and business leaders set out their views on how global capitalism and the global market place might be made more economically inclusive, socially acceptable and environmentally sustainable by upgrading its moral and ethical content. The second purpose of this chapter is to address, albeit very cursorily, the moral and ethical weaknesses of the contemporary state of global capitalism which the credit crunch and banking failures have so vividly exposed in 2007 and 2008. We then go on to assert that it is only by a holistic and more ethically based recasting of the leading institutions of global capitalism that such weaknesses can be overcome. In an Appendix to this chapter we set out the contributors to our earlier edited book. As far as possible, we have tried to update our findings to embrace the events between 2003 and the end of 2007. 2. PURPOSE OF THE ORIGINAL CHAPTER In my 2003 volume, each of my fellow contributors addressed three basic questions – from his or her particular perspective. These were: 1. How far, and in what respects, does the current stage of responsible global (or globalizing) capitalism (RGC) fall short of its economic potential, social acceptability and long term sustainability? To what extent can its deficiencies be attributed...
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