Global Players – Global Markets
- International Institutions and Global Governance series
Edited by John-ren Chen
Chapter 2: Global Capitalism: The Moral Challenge
2. Global capitalism: the moral challenge John H. Dunning1 INTRODUCTION It is just over 14 years since the fall of the Berlin Wall, and the burgeoning of the Internet and e-commerce. These events, the one political and the other technological, coupled with the extensive liberalisation of cross-border markets, and the advent of several new players on the world economic stage, heralded a new era for the global community. In the last decade, a plethora of scholarly and popular monographs and articles have explored the implications of this phenomenon, popularly referred to as ‘globalisation’. In the beginning, there was nothing but praise for it; then, in the mid-1990s, its downsides began to be highlighted. More recently there has been a ‘backlash’ against the ‘backlash’, fuelled in part by the tragic events of 11 September 2001 and their aftermath. My reading of the latest contributions on the subject by such analysts as George Soros (1998, 2002), Thomas Friedman (2000) Paul Streeten (2001) and Joseph Stiglitz (2002), is that they are showing a much more realistic and balanced appreciation of the constraints and challenges of globalisation. I sense that there is a growing feeling that if we can ‘get it right’ (and ‘right’ includes the right way to globalise), global capitalism, as it is now emerging, can help achieve many of the economic and social aspirations which most people hold dear, better than any other alternative currently (and I stress currently) on offer. (Dunning, 2000; Friedman, 2000; Fukuyama, 1999; Sen, 1999). If we...
You are not authenticated to view the full text of this chapter or article.
Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.
Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.
Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.