Academic journal article Economics, Management and Financial Markets

Glaring Asymmetries of the Globalization: An Analysis Oriented to Business Economics

Academic journal article Economics, Management and Financial Markets

Glaring Asymmetries of the Globalization: An Analysis Oriented to Business Economics

Article excerpt

1.Introduction

The initial evidence of this paper regards the fact that the emerging model of globalization has caused few benefits and many negative aggravations: a balance (between benefits and costs) certainly at a loss, with few winners and many losers.

In other words, the current interpretation of the "theory of free trade" (Markusen et al., 1998; Milner et al., 1989) has generated a basic misunderstanding (Deraniyagala et al., 2001; Irwin, 2015) synthesizable in a model of globalization that has certainly created wealth in the emerging countries, but has also generated the complete cancellation of local economies in many developed countries by radical industrial relocation.

From this observation multiple consequences are derived, known to us as glaring asymmetries of the globalization that have generated a present load of uncertainties such as social unrest, economic instability and migration flows out of control: these uncertainties have created a common and widespread anxiety and an "era of uncertainty" in the 21st Century.

Following an approach oriented to Business Economics and starting from the relationship between the concepts of globalization, sustainable development and corporate social responsibility, the aim and scope of the paper is to try to propose a theoretical revision of the present paradigms applied to globalization.

As stated, the underlying research question can be formulated as follows: following an approach oriented to Business Economics, is it possible to formulate new business models that represent prospectively a stimulus to overcome the present glaring asymmetries of the globalization?

The proposal of the answer to the previous research question will be based on a research methodology oriented to the "Aprioristic Theory" (Ayres, 1961; Freadman et al., 1992; Haspelmath, 2012), where its potential will be applied to satisfy the aim and scope of the paper: every single paragraph of the article will examine the literature review of reference.

2.Processes of Globalization: Concepts Underlying and Related Relations

In the previous pages it was stated that the glaring asymmetries of the globalization have generated a present load of uncertainties such as social unrest, economic instability and migration flows out of control.

These asymmetries are represented by a generalized discomfort, which manifests itself in economic and social aspects, but whose origins are probably related to Business Ethics: the same Business Ethics - a discipline very much related to the Business Economics - should necessarily be subjected to a profound reshaping, by theorizing and systematizing new doctrinal paradigms of reference.

This premise allows us to understand that it is not possible to propose a theoretical revision of the paradigm of globalization oriented to Business Economics without contextualizing these concepts to Business Ethics.

From this point of view, the concept of Business Ethics is closely related to those concerning the "sustainable development" and the "corporate social responsibility".

The first concept - regarding the "sustainable development" - has been introduced and defined in 1987 by the World Commission on Environment and Development (WCED) - as "(...) the economic and social development that doesn't compromise the environment and the natural resources the continuation of human species and the future development depend on (...)" (WCED, 1987: Chapter 2: Towards Sustainable Development).

As regards the second concept - concerning the "corporate social responsibility" - it has been defined by the European Commission as "(...) the voluntary decision to contribute to the progress of the society and to the defense of the environment, integrating social and environmental problems into the corporate operations and the interactions with the stakeholders (...)" (EC, 2000).

This last concept - concerning the "corporate social responsibility" - has been reviewed in 2011 by a new European policy on "corporate social responsibility": the new policy states that to fully meet their social responsibility, the enterprises "(. …

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