Challenging Common Perceptions
Challenging Common Perceptions
Some Preliminary Conceptual Reflections on Multinational Corporations' Obligations of Justice
This chapter examines multinational corporations' (MNCs) obligations of global justice by focusing on three existing perceptions and debates about the role and responsibilities of corporations in society: the neoclassical business model, conventional approaches to corporate social responsibility and corporate citizenship, and the newly emerging debate on business and human rights. It discusses the conceptual features of corporate obligations of global justice, challenges the neoclassical perspective on business, and offers suggestions for the improvement of the last two debates. The chapter first outlines the basic presumption of profit maximization that underlies the neoclassical business model before testing its legitimacy in light of the justice-based perspective. It also assesses the relationship between business and human rights and emphasizes the importance of human development in this regard.
Keywords: global justice, neoclassical business model, corporate social responsibility, corporate citizenship, human rights, human development, profit maximization
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