The Search for the Virtuous Corporation

2021 ◽  
Author(s):  
Justin O'Brien
Keyword(s):  
Social Contract ◽  
Economic Activity ◽  
Institutional Economics ◽  
Transnational Corporation ◽  
Conflict Of Laws ◽  
Private Ordering ◽  
Community Expectations ◽  
Complex Adaptive ◽  
Regulatory Dynamics ◽  
Legal Frameworks

The corporation is the most complex, adaptive, and resilient model of organizing economic activity in history. In an era of globalization, the transnational corporation has significant power over society. While its rights are specified through private ordering, and choice of jurisdictional home, in the event of conflict of laws, the corporation's duties and responsibilities remain contested. Notwithstanding the argument in institutional economics that all transactions take place within governance and legal frameworks, underpinned by a 'non-calculative social contract,' the terms are notoriously difficult to define or enforce. They are made more so if regulatory dynamics preclude litigation to a judicial conclusion. This Element situates the corporation – its culture, governance, responsibility, and accountability – within a broader discourse of duty. In doing so, it addresses the problem of the corporation for society and the corporation's problem in aligning its governance to changing community expectations of obligation.

Conflict of Laws and the Internet

2017 ◽  
Author(s):  
Uta Kohl
Keyword(s):  
International Law ◽  
Private Sphere ◽  
Nation State ◽  
Collateral Damage ◽  
Private International Law ◽  
State Law ◽  
Conflict Of Laws ◽  
Private Ordering ◽  
Political Boundaries ◽  
Global World

This chapter documents the extreme stresses that cyberspace applies to state law by examining how private international law, or conflict of laws, has responded to the online global world. This highlights both the penetration of globalization into the ‘private’ sphere and the strongly ‘public’ or collective political nature of much of the ‘private’ ordering through national law. The chapter shows that the nation state is asserting itself against the very phenomenon—globalization (through cyberspace)—that threatens its existence, and does not shy away from accepting the fragmentation of this global cyberspace along traditional political boundaries as collateral damage to its own survival. Yet, the frequent appeal to international human rights normativity in recent conflicts jurisprudence suggests an awareness of the unsuitability and illegitimacy of nation state law for the global online world.

Part 2 National and Regional Reports, Part 2.2 Asia: Coordinated by Yuko Nishitani and Béligh Elbalti, 34 Qatar: Qatari Perspectives on the Hague Principles

2021 ◽  
Author(s):  
Elrifai Silke Noa
Keyword(s):  
International Law ◽  
Civil Code ◽  
Private International Law ◽  
Federal Law ◽  
Conflict Of Laws ◽  
Law System ◽  
Financial Centre ◽  
The Hague ◽  
Legal Frameworks

This chapter addresses Qatari perspectives on the Hague Principles. The State of Qatar has two legal frameworks: the onshore civil law system and the offshore common law-based the Qatar Financial Centre, established in 2005 and not covered in this chapter. In onshore Qatar, private international law is codified in Articles 10–38 of Subchapter 3 (conflict of laws in space) of Chapter 1 of the Qatar Civil Code (Federal Law No 22 of 2004). In comparison to its European counterparts, the Qatari private international law codification contains significant gaps. Though only promulgated in 2004, Articles 10–38 are near copies of the conflict of law rules contained in the Egyptian Civil Code of 1949, with a few differences. In accordance with Article 34 Civil Code, ‘the [general] principles of private international law’ shall apply in the case of a conflict of laws absent any statutory provision. The provision opens the doors for Qatari courts to refer to the Hague Principles.

Constrained Entrepreneurship: An Interdisciplinary Extension of Bounded Rationality

2000 ◽  
Vol 12 (1) ◽  
pp. 71-86 ◽  
Author(s):  
Anne de Bruin ◽  
Ann Dupuis
Keyword(s):  
Social Network ◽  
Bounded Rationality ◽  
Economic Activity ◽  
Institutional Economics ◽  
Transaction Cost Economics ◽  
New Institutional Economics ◽  
Critical Examination ◽  
Atomistic Model ◽  
Interdisciplinary Framework ◽  
Orthodox View

The intention of this paper is to extend critiques of rationality that have been developed across a range of disciplines and within a number of strands of feminism. Initially providing a brief review of rationality critiques, the paper then focuses on bounded rationality, the key behavioural assumption of transaction cost economics (TCE). It is shown that, to some extent, this notion of rationality erodes the atomistic model of economic activity central to the economic orthodoxy and is therefore an improvement on the neoclassical orthodox view of rationality. The paper then moves on to a more critical examination of bounded rationality through the development of the feminist slanted concept of ‘constrained entrepreneurship’. This new conceptualisation also provides a means of extending TCE through the incorporation of the Coasian insight that the development of TCE has tended to lose sight of the raison d’être of the firm, that of ‘running a business’ (Coase, 1988a). The concept of constrained entrepreneurship offers a useful, integrative, interdisciplinary framework in which to work and provides a focus for synthesising aspects of social network analysis (a central concern of the new economic sociology) and a feminist oriented perspective, with TCE, an important strand within new institutional economics.

Introduction

2016 ◽  
Author(s):  
Adam Teller
Keyword(s):  
Eighteenth Century ◽  
Social Status ◽  
Economic Activity ◽  
Economic History ◽  
Institutional Economics ◽  
Cultural Factors ◽  
New Institutional Economics ◽  
Financial Success ◽  
The Family ◽  
History Of

The book makes three main interventions. First is the use of Jewish economic history to understand both the development of Jewish society and its relations with the surrounding world. The methodology of New institutional economics, emphasizing the connection between economic and cultural factors, is employed. Second is the study of the Jews’ economic roles in the specific context of magnate estates in eighteenth-century Poland-Lithuania. In this late feudal setting, Jews achieved enormous financial success, which they translated into improved social status and even power. This process is at the heart of the analysis here. Third is the history of the Radziwiłł family and its estates in Lithuania. From a low point at the beginning of the period, the family reached the pinnacle of its power at the end. This rise was based on increased estate incomes, the importance for which of Jewish economic activity is examined here.

Money, Power, and Influence in Eighteenth-Century Lithuania

2016 ◽  
Author(s):  
Adam Teller
Keyword(s):  
Eighteenth Century ◽  
Economic Activity ◽  
Institutional Economics ◽  
New Institutional Economics ◽  
Capitalist System ◽  
System A ◽  
System P ◽  
Archival Record ◽  
The Rich ◽  
Formed Part

This study demonstrates how Jewish economic activity on the magnate estates in the eighteenth-century Polish-Lithuanian Commonwealth enriched, empowered, and reshaped Jewish—and Polish-Lithuanian—society. The analysis follows the New institutional economics (NIE) approach to detail Jews’ roles in the estates’ economic institutions—especially the markets, often overlooked in studying the feudal economy. It examines the economic roles played by Jews on the estates of the Radziwiłł magnate dynasty. This was a late feudal economy, so its study demonstrates how Jews formed part of a pre-capitalist system—a highly beneficial setting for them. Jewish businessmen formed the majority of merchants on the estates and also dominated the leasing of the monopoly on alcohol sales—a crucial way of marketing surplus grain. This economic niche became an ethnic economy, giving Jews market superiority. Their social status improved dramatically since they enjoyed Radziwiłł support and acted as their unofficial agents in various contexts. A new Jewish socioeconomic elite appeared, wielding power and authority over all groups on the estates. Based on the rich archival record, the study focuses on the Radziwiłł family’s Lithuanian holdings, the heart of its estates. It shows that the Jews’ integration into the estate economy was at the family’s invitation, in order to increase revenues. The Jews’ success in doing this allowed the Radziwiłłs, like similar magnate families, to become the most powerful force in Poland-Lithuania. Jewish economic activity, therefore, helped shape the Commonwealth’s eighteenth-century political system.

scholarly journals Campaign communication in Nigeria’s 2019 General Elections: unfulfilled party pledges and voter engagement without a social contract

2020 ◽  
Vol 19 (2) ◽  
pp. 97-124
Author(s):  
Mike Omilusi
Keyword(s):  
Digital Media ◽  
Social Contract ◽  
Democratic Party ◽  
General Purpose ◽  
Electoral Process ◽  
Political Independence ◽  
General Elections ◽  
Campaign Communication ◽  
Legal Frameworks ◽  
Elected Representatives

Broken campaign promises challenge the sanctity of the electoral process in Nigeria. Six decades after political independence and six electoral cycles in the last two decades of the Fourth Republic, there are inadequate legal frameworks and a lack of political will to change the narrative. Ambushing the voters with plans of action on the eve of every election remains a constant ritual to legitimise party campaigns in both digital media and at heavily mobilised rallies, often with limited substance. The general purpose of this study is twofold. First, to provide analysis of campaign communication and the extent to which it influences the participation of citizens in the electoral process. Second, to investigate the electorate’s understanding of policy issues inherent in the 2019 election manifestos of the two dominant political parties, All Progressive Congress (APC) and People’s Democratic Party (PDP), and how other elements shape perception and trust in elected representatives/ government. The research design relies on sample surveys and in­depth interviews, and seeks to identify, within the context of an electoral cycle, why conversations between public office seekers and voters do not translate into a concrete social contract or generate time­bound inclusive policies.

Exploration of Business Ethics Based on Economics Analysis

2014 ◽  
Vol 1044-1045 ◽  
pp. 1741-1744
Author(s):  
Yue Ming Cheng ◽  
Xin Fa Tang
Keyword(s):  
Sustainable Development ◽  
Business Ethics ◽  
Economic Impact ◽  
Economic Activity ◽  
Institutional Economics ◽  
Dominant Role ◽  
Economic Behavior ◽  
Ideal Behavior ◽  
Economics Analysis

In view of broad and deep economic impact of economy and society from business ethics enterprise can not avoid the existence of ethics, as values, spirit, pursuit of ideal ,behavior habits, morality and so on reflecting in economic activity, its orientation to economy and the dominant role of economic behavior is very obvious. In this paper, ethics analysis of Marxist economics, institutional economics, welfare economics and ecological economics demonstrate necessity of the business ethics for sustainable development of enterprises.

scholarly journals Islamic Social Contract on Finance for Muslim Minorities

2017 ◽  
Author(s):  
Mohammad Manzoor Malik
Keyword(s):  
Social Contract ◽  
Economic Activity ◽  
Economic Condition ◽  
Solid Base ◽  
Muslim Minorities

Any effort by Muslim minorities to enhance their economic condition and moving towards progress should be based on a social contract. When regulations and laws are not by their letter Islamic in their nature then only upholding an Islamic social contract on finance could help Muslim minorities to provide a solid base, confidence, trust, and foundation for their economic and business initiatives including investment and finance. The whole economic activity is actually investment and finance and it has to be based on such a special social contract.

International Financial Centers as a Model: Facilitating Growth and Development by Connecting to International Legal Frameworks

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Charlotte Ku ◽  
Andrew Morriss
Keyword(s):  
Economic Development ◽  
Capacity Building ◽  
Global Governance ◽  
Legal System ◽  
Economic Activity ◽  
Growth And Development ◽  
The World ◽  
Legal Regimes ◽  
Regulatory Capacity ◽  
Legal Frameworks

Abstract International financial centers (IFCs) provide means of strengthening law and regulation not only in the financial sector, but also in global governance more broadly and the contribution their legal regimes make to economic development. By demonstrating how ideas move across jurisdictions and how cross-jurisdictional structures add value, IFCs facilitate transactions in jurisdictions where local legal systems and services are not yet adequately developed or available to support economic activity. They serve as regulatory capacity builders, building networks of professionals, regulators, and judges contribute to ongoing innovation and capacity building. Their success at building legal regimes that add value and which are available to new classes of individuals and firms around the world makes them a model for using the legal system to foster economic development.

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