Source: Making Globalization Good: The

Moral Challenges of Global Capitalism

Edited by John H. Dunning. Oxford University Press 2003

That's the abstract I found in the internet. Below I put some quotation you may like to
use........

1. The Moral Imperatives of Global

Capitalism: An Overview
Author: Dunning, John H.
Source: Making Globalization Good, April 2003 , pp. 11-41(31)

Abstract:
This introductory chapter sets the background to the book and guides the reader through its main
themes. The comments made are based on an exploration of three propositions. These are as
follows: first, responsible global capitalism (RGC) should be considered not as an end in itself, but
as a means of providing a richer, healthier, and more meaningful lifestyle for individuals and their
families, and of advancing the economic objectives and social transformation of societies; second,
in order to move towards a more acceptable global capitalism, the organizational structures and
managerial strategies of each of its four participating institutions, viz. markets, governments, civil
society, and supra-national entities, need to be reconfigured and strengthened; and third, RGC can
be achieved and sustained only if there is a strong and generally acceptable moral ecology,
underpinning the attitudes, motives and behaviour of its constituent individuals and institutions (and
in a transforming global society, this basis needs continual reappraisal and careful nurturing by the
appropriate suasion, incentives, and regulatory mechanisms). Before going on to discuss the main
issues raised by these three propositions, Dunning briefly defines the main global concepts dealt
within the chapter: globalization itself, the global market place, global capitalism, and responsible
global capitalism. Some of the issues raised and addressed in the chapter are the unique
characteristics of GC, and how it relates to the sister concepts of the global market place and
globalization; the reasons why the inter-related functions of the four constituents of GC are
presently suboptimal, and the challenges and opportunities offered by the globalizing economy;
technical and institutional failures; and what needs to be done to upgrade moral standards.

„The United Nations Development Program, for example, has compiled a human development
index (HDI) which adds to GNP per head such variables as life expectancy and educational
attainment (UNDP 2000)“
that means to measure living standards one can not use just the GNP or GDP- many articles refer
only to one of those when they talk about improvement or getting rid of poverty.
Goal of capitalism is to increase the GNP (or GDP) per head.

„RGC embraces much more than global markets. It includes the set of non-market institutions
within which the market is embedded and which together, characterize a global society (Hamlin
1995)
Quotation of the book of Dunning page 26 Chaper 1.6. The Institution of RGC

Earlier, while I acknowledged the pre-eminence of the markets as an instrument for wealth creation
in the new global economy, I argued that governments, supranational agencies, and NGOs had a no
less critical role to play.
It is after all, the responsiblity of national governments to set up a workable economic system, to
supervise its functioning, and to counteract of compensate for, its deficiencies it is the responsiblity
of governments to provide the necessary legal and commercial infrastructure to ensure that the
markets within their jurisdication operate efficiently and fairly. It is supranational agencies which
are frequently responsible for setting the terms under which international trade and investment take
place.
It is NGOs that frequently perfom functions which markets and gorvernment cannot do or choose
not to do.....