‘Stakeholder capitalism’ has been promoted to balance the market and society but ultimately the only solution is to make firms more democratic.
Societies should not allow firms’ owners and their agents to drive the discussion about reforming corporate governance.
The rise of populist nationalism throughout the west has been fuelled partly by a clash between the objectives of equity in rich countries and higher living standards in poor countries.
If authoritarian populism is rooted in economics, then the appropriate remedy is a populism of another kind—targeting economic injustice and inclusion—but pluralist in its politics and not necessarily damaging to democracy.
Labour advocates have long complained that international trade agreements are driven by corporate agendas and pay little attention to the interests of working people. The preamble of the World Trade Organization Agreement mentions the objective of “full employment,” but otherwise labour standards remain outside the scope of the multilateral trade regime. The only exception is a clause, […]
Defying common sense as well as business and financial elites, US President Donald Trump seems to relish the prospect of a trade war. On July 6, his latest trade restrictions – 25% tariffs on about $34 billion of Chinese imports – took effect. They were promptly met by retaliatory tariffs on an equivalent volume of […]
When Italy’s president recently vetoed the appointment of the Euroskeptic Paolo Savona as finance minister in the government proposed by the Five Star Movement-League party alliance, did he safeguard or undermine his country’s democracy? Beyond constitutional strictures specific to the Italian context, the question goes to the heart of democratic legitimacy. The difficult issues it […]
A high-profile United States trade delegation appears to have returned empty-handed from its mission in China. The result is hardly a surprise, given the scale and one-sided nature of the US demands. The Americans pushed for a wholesale remaking of China’s industrial policies and intellectual property rules, while asking China’s government to refrain from any […]
What do you think is the crisis of globalisation and how did it come about? The crisis is the result of a lot of people not being particularly happy about the way that globalisation has gone. I think it’s rooted in the highly asymmetric effects that globalisation has had in societies around the world – […]
Why were democratic political systems not responsive early enough to the grievances that autocratic populists have successfully exploited – inequality and economic anxiety, decline of perceived social status, the chasm between elites and ordinary citizens? Had political parties, particularly of the center left, pursued a bolder agenda, perhaps the rise of right-wing, nativist political movements […]
The crisis of liberal democracy is roundly decried today. Donald Trump’s presidency, the Brexit vote in the United Kingdom, and the electoral rise of other populists in Europe have underscored the threat posed by “illiberal democracy” – a kind of authoritarian politics featuring popular elections but little respect for the rule of law or the […]
Populists abhor restraints on the political executive. Since they claim to represent “the people” writ large, they regard limits on their exercise of power as necessarily undermining the popular will. Such constraints can only serve the “enemies of the people” – minorities and foreigners (for right-wing populists) or financial elites (in the case of left-wing […]