By Peter Utting
This is often the 1st quantity of 2 books at the altering nature of state-business kinfolk. This quantity explores CSR in a ancient trajectory and improvement context; is theoretically educated and contributes to the physique of severe considering that demands extra complete regulatory frameworks.
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Additional info for Corporate Social Responsibility and Regulatory Governance: Towards Inclusive Development? (International Political Economy)
Notes 1. The preparation of this chapter benefited from comments from various participants at the symposium on The Responsible Corporation in a Global Economy, organized by the Warwick Business School and the Social Trends Institute, 21–2 March 2009. Special thanks go to Peter Newell and Colin Crouch for their feedback, as well as to Rebecca Buchholz and Karla Utting for comments and editorial assistance. 2. The term has been used by Peter Evans (2005a) to refer to the increasing attention within development theory and analysis to the role of organizations, culture, norms and perceptions.
It is argued that from the perspective of regulation theory, such stabilization is a necessary condition for these institutional forms to contribute to effectively regulating the global economy. Whither CSR? The contemporary global crises referred to at the beginning of this chapter suggest a somewhat uncertain picture of the future of CSR. The weakening of finance capital and neoliberal orthodoxy; an opening for the state to reassert its role as a developmental and regulatory agent; and the legitimacy bestowed upon the global justice movement that may now claim ‘I told you so’, suggest the possibility of a shift in the configuration of social forces that may favour processes of institutional reform conducive to inclusive development.
It has therefore often played a background role in development in ‘enabling’ government not to focus on welfare. However, none of these minor forms of socioeconomic governance were as important to the developmental state itself as the hierarchy of the large corporation. Even in the state-owned, Soviet form, there was usually a distinction between political and administrative actions of the state, on the one hand, and managerial actions of the corporation, on the other. Where private interests owned the firms that were of strategic importance to the development plan, they became major extractors of rent and providers of corporate social welfare.