Question

3. Do globalization of business and corporate “rights” (i.e., the right of corporate interests to support political candidates financially) present difficulties in protecting common goods and services like environmental quality (e.g., water quality, air quality, etc.)? Why? What should be done?

Answer 1

3.

Globalization of business and mentioned corporate rights, present difficulties in protecting common resources and natural resources and environment, up to a certain level, and it only happens when government makes favorable policies that enables the corporate to compete in the international market and in the name of it, these corporate get some leverage from the government and can create harm to the natural environment.

Though, it is only a short run scenario and government should and comes up with necessary regulations that set emission norms, put regulations on extraction of natural resources as well as controlling the corrupt practices of the corporate even in the overseas market. For example, FCPA act of the USA, ensures that US companies in the overseas markets, should not involve in affecting decisions using financial or non-financial means. On a similar note, there is a clean water act or dedicated resources that are common and cannot be acquired by the private parties. So, a balance is created by the government in due course of time so that corporate rights or promotion of globalization should not be misused or misnternpreted by the corporate.