Global Economy and Corporate Responsibility

Focusing on the Common Good

From a progressive perspective, there is no doubt that global economic, trade and tax policies serve a higher goal. Primarily, they are instruments to reduce inequality within and between states and between the Global North and Global South. A beneficial global economic order serves the common good: It provides solutions to social issues, instead of exacerbating them.

With the 2030 Agenda for Sustainable Development, the United Nations have created a set of guidelines for the economic system of the future, and for our work as well.

Together with our partners, we are committed to shaping the global economic system so that it benefits the common good, and to implementing the Goals of the 2030 Agenda – all over the world. In this, our emphasis is on trade and tax policies and also the topic of corporate and investor responsibility.

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News About Global Economy and Corporate Responsibility

Prof. Kappel und Prof. Reisen

Study "G20 Compact with Africa: The Audacity of Hope"

In a new FES study Robert Kappel und Helmut Reisen analyse the impact of the CwA and give policy recommendations.


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Taxes, taxes, taxes

Developing countries need to unite their efforts now to prevent an unfair international tax reform, says José Antonio Ocampo on ips-journal.


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Africa’s future will be decided in its cities

Increasingly, Africa’s growing cities are becoming the site of changing socio-political struggles for public goods


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01.10.2019

Feminist economists needed to make the most of the digital age

The digital economy supposedly empowers women. Replay our webinar with experts from the Global South for a reality check and ways ahead.


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The IMF’s latest victims

The IMF’s belief in ‘expansionary austerity’ would be laughable if it were not so damaging, says Jayati Ghosh on ips-journal.eu.


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Western (double) standards

Criticising China would be more convincing if the same demands were met by the West itself, says Claudia Detsch on ips-journal.eu.


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More articles are available here.


Publications

Schliemann, Christian; Bryk, Linde

Arms trade and corporate responsibility

Liability, litigation and legislative reform
Berlin, 2019

Download publication (500 KB, PDF-File)


Kao, Moshe

WTO reform

Old debate, new realities
Geneva, 2019

Download publication (210 KB, PDF-File)


Rizvi, Kazim; Bhaskar Tiwari, Pranav

Industrial revolution 4.0 and the impact on automotive sector

NewDelhi, 2019

Download publication (730 KB, PDF-File)


Kuzmina, Elena; Isachenko, Tatiana

State of the Union

Possibilities and perspectives for the Eurasian Economic Union
Moskau, 2019

Download publication (240 KB, PDF-File)


Sargsyan, Ruben

Social and economic policies during Armenian parliamentary elections

Research results
Tbilisi, 2019

Download publication (600 KB, PDF-File)



Global Economy, Corporate Responsibility and Progressive Politics

Seen from the progressive standpoint of Social Democracy, there is no doubt that the role of economic policy must be to promote prosperity for society as a whole, and to reduce inequality within and between countries. A progressive global economic order solves social issues instead of exacerbating them.

First and foremost, this means that the social benefit derived from economic actions needs to be front and center at all times. The interests of powerful, well-connected players such as investors or corporations must not be allowed to override the common good. Just like a state's citizens, economic actors have both rights and obligations: They are protected by the state but must also: adhere to the law, preserve public assets such as the environment, pay taxes, and be held responsible for any damage caused.

Because large transnational corporations often put these obligations last, states and parliaments must regulate them. The economy should be under democratic control, both nationally and internationally. Strong and democratically legitimate institutions are required to provide oversight of the global economy. The establishment of an effective system for “Global Economic Governance” is one of the most important tasks of our time, to ensure that all human beings – and not just the “1 percent” – can benefit from economic growth.

2030 Agenda: A Guide to Tomorrow's Economy

With the United Nation's 2030 Agenda, the international community has given itself a set of guidelines for shaping the global economy in the future: One person's prosperity should not come at another person's expense, or at the expense of upcoming generations. Future economic activity needs to be guided by sustainability principles and the common good. This is the only way in which states will reach the Sustainable Development Goals (SDGs), which cover issues such as reducing poverty and inequality and addressing the effects of climate change.

In our work on economic issues, we are committed to:

  • reining in international financial markets,
  • reforming international trade policy,
  • fundamentally reshaping the international tax system and
  • making transnational corporations adhere to labor rights, human rights and environmental standards.
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