Business law

The Global Market and Moral Values This paper focuses on the vital aspect of the test of capitalism that whether our major corporations are successful in the fields of profit making efforts and on the same hand serve as the social structures like our family. Further this can be stated in Elmer W. Johnson’s words as “Should the corporation serve not simply as a utilitarian arrangement for the efficient production of high quality goods and services, but also as a moral community that shapes human character and behavior?” In my views the corporation is meant to serve the community through services like manufacturing and distributing but it is not in anyways responsible for the future growth of the human beings or to a higher level, for the nation and society. Elmer addresses this war of morality and economic growth by comparing the two as, “while free markets will ruthlessly eliminate inefficient firms, the moral sentiments of man will only gradually and uncertainly penalize immoral ones.” Clearly the impact is more on the economic growth front of the corporation which if is a multinational organisation , affects more than one company. And today the companies use a term ‘stakeholders’ for its shareholders, which means that incase of economic downfall of the corporation the major loss occurs to the stakeholders whose money and resources are at stake, then what is the solution the society or the worker class can provide in this case? The term Economic globalisation gives precedence to economic values and not to the moral or social values and considers free markets and global corporations only. The new terms in the corporate world now are “unrestricted free trade, privatisation of the enterprise and deregulation of corporate activity”, except these all other factors like public health or food and safety laws or national laws for control of investment are a hindrance. These hindrances “are quickly being outlawed by the great new trade agreements. And while corporations are being deregulated and freed, nation states and local governments are being increasingly regulated and confined”. References: http://www2.iath.virginia.edu/cecmpe/soulcraft.html http://www.sustainable-city.org/intervws/mander.htm