Global Sustainable Capitalism: From the Ashes of the Great Global Recession
The challenge of responsibly designing economic systems and developing responsible business leaders to transform the failed form of U.S. disaster capitalism into global sustainable capitalism is vividly demonstrated by the current global financial risk management crisis. This conceptual paper makes a contribution to understanding the current U.S. subprime mortgage and credit crisis that has adversely impacted the global financial system in ways in which bad actors and flawed processes at the macro, meso, and micro levels have unilaterally shifted risks and harms onto innocent global stakeholders who now are demanding global reckoning and reform. An alternative international business and ethics model, the global business integrity capacity model (GBICM), is proposed that inclusively balances types of capitalist, moral accountability and human nature theories and provides a blueprint for economic system redesign and responsible management education reform.
Petrick, J. A.
(2009). Global Sustainable Capitalism: From the Ashes of the Great Global Recession. Proceedings of the 6th IAMB Conference.