Can Multinational Corporations Afford to Ignore the Global Common Good?1

Abstract

ABSTRACT Contemporary advances in the fields of globalization and technologies raise the question of the relationship between international business and the global common good. Half of the hundred biggest economies in the world are now corporations. Nation‐states were traditionally viewed as the guarantors of the common good; however, the current historical stage is marked by the waning of the role of government, and reveals an emerging situation characterized by a co‐responsibility of multiple agents in this respect. Three major evolutions are likely to induce multinational corporations (MNCs) to take the global common good into account: the imperative of the preservation of our biosphere, the rise of an anti‐globalization sentiment with all its potential consequences, and the necessity to design a global social contract. Besides, these three phenomena are interconnected, which adds to the pressure on MNCs to change their policies.

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