The Challenges of Global Business Authority: Democratic Renewal, Stalemate, or Decay?

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An astute assessment of democratic principles and decision-making structures in the global business world.

Business is being globalized with an immense speed, but are democratic practices and decision-making structures keeping pace? Contrary to those who see democracy as irrelevant or impossible at the global level, The Challenges of Global Business Authority analyzes three dimensions of democracy- participation, accountability, and transparency-in many transnational mechanisms that seek to align global business interests with the public interest. Looking beyond these mechanisms, this volume seeks to explore the fundamental issues affecting the relationship between democracy and global business authority, such as the structural power of business itself, and the contestations over the boundary between public and private. The essays in this volume provide concrete ways that business can be made more publicly accountable to allow democratic practices to take on a more permanent role in the global business world.

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Product Details

  • ISBN-13: 9781438431567
  • Publisher: State University of New York Press
  • Publication date: 1/2/2011
  • Pages: 336
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.90 (d)

Meet the Author

Tony Porter is Professor of Political Science at McMaster University. He is the author of Globalization and Finance and Technology, Governance, and Political Conflict in International Industries, and the coeditor (with Claire Cutler and Virginia Haufler) of Private Authority and International Affairs, also published by SUNY Press.
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Table of Contents

List of Figures and Tables vii

Preface ix

Acknowledgments xi

Chapter 1 Globalization and Business Authority: New Modes of Democratic Policymaking? Tony Porter Karsten Ronit 1

Section 1 The Firm Level: Individual Political Actions and Voluntary Arrangements

Chapter 2 Private Authority Certification Regimes: A Club Theory Perspective Aseem Prakash Matthew Potoski 39

Chapter 3 The Democratic Legitimacy of Private Authority in the Food Chain Doris Fuchs Agni Kalfagianni 65

Chapter 4 Power, Interests, and the United Nations Global Compact Jackie Smith 89

Section 2 The Industry Level: The Organizing Capacities of Industries and Their Regulation

Chapter 5 Business Authority and Global Financial Governance: Challenges to Accountability and Legitimacy Geoffrey R. D. Underbill Xiaoke Zhang 117

Chapter 6 Business and Democracy? Pharmaceutical Firms, Intellectual Property, and Developing Countries Susan K. Sell 145

Chapter 7 The Corruption of the Public Interest: Intellectual Property and the Corporation as a Rights-Holding "Citizen" Christopher May 179

Section 3 The General Level: Trans-Industry Business Action and Policy Processes

Chapter 8 Regulatory Architectures for a Global Democracy: On Democratic Varieties of Regulatory Capitalism David Levi-Faur 205

Chapter 9 Democratic Accountability in Global Governance: Business and Civil Society in Multiple Arenas Aynsley Kellow Hannab Murphy 227

Chapter 10 Sovereign Debt Restructuring: Alliances Crossing the Financial Services Industry, States, and Nongovernmental Organizations Kathryn C. Lavelle 257

Chapter 11 The Complexities of Global Business Authority and the Promise of Democracy Tony Porter Karsten Ronit 279

List of Contributors 311

Index 317

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