Business and transnational norm-building in post-Westphalian global politics Online publication date: Sat, 23-Jan-2016
by Wolfgang Hein
International Journal of Business Governance and Ethics (IJBGE), Vol. 10, No. 3/4, 2015
Abstract: Political rules implemented by nation states limit the options of private enterprises to maximise profits. Globalisation has broken up the congruence between political and economic space; companies can evade political rules by using greater flexibilities of production, finance and marketing. The negotiation and implementation of international social and environmental standards have remained at best fragmentary - not only because of business resistance, but also because developing countries with few other locational advantages were afraid of losing competitiveness. On the other hand, business cooperates to attain minimum standards, preferably through voluntary action. Transnational corporations from emerging economies are increasingly integrated in global economic networks which tend to assimilate their normative orientations to those of global peers (attracting customers, winning political support, preventing others from exploiting low standards). This could support the socialisation of emerging economies into global norm-building processes.
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