Accountability for Responsibility: An assessment of the Transnational Capitalist Class' role in driving a Global CSR Agenda

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Abstract

Globalisation has led to the establishment of a new hierarchy of leadership. At the helm is the Transnational Capitalist Class (TCC) , which oversees the direction of Multi National Corporations (MNCs) at a global level. Can the TCC, as leaders in the governance agenda, drive a global CSR agenda, or, perhaps, the question should be: do they want to drive a CSR agenda?
The hypothesis of this article is that, as the structure of global leadership and governance has changed, so too has the potential for aligning national CSR agendas to a globally accepted standard. This is unlikely due to systematic limitations inherent in a transitional structural realignment of global leadership. Whereas the design of global leadership has changed due to processes of globalization, the bodies that can regulate this leadership have not developed at the same pace. Regulation on issues such as CSR remains at national, federal and supra-­-national levels suggesting that TCCs have a free reign in dictating agenda. This new class (TCC) may bear a responsibility for CSR but there is a lack of accountability if it is not fulfilled.
Original languageEnglish
Pages (from-to)188-201
Number of pages14
JournalAustralian Journal of Corporate Law
Volume27
Publication statusPublished - 22 Oct 2012

Bibliographical note

This piece was written once I commenced employment at Queen's University Belfast. A more substantive piece in length at approximately 10000 words, this piece is one of my REF pieces for the upcoming assessment exercise. Looking at the governance structures of the capital market, this article looks at the challenges in overcoming the financial crisis with governance embedded for the most part with governments with less power and reach than the organisations which they seek to govern/regulate.

Keywords

  • Leadership, Global Leadership, Transnational Capital Class,
  • Accountability
  • Responsibility

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