To what extent do markets pose a threat to democracy Essay - 1

To what extent do markets pose a threat to democracy - Essay Example (Barnhill 91-92) Moreover, a neglected side f democracy and growth is the question f what facilitates flexible, consensual responses to rapidly changing economic situations and the qualitative aspects f responses by governments to the day-to-day policy matters demanded by a democratic polity. More often than not, institutions are viewed as static and inanimate, devoid f political content. The standard views are that institutions provide security from intrusive government and insure the effective functioning f markets. Property rights are secure where institutions prevent arbitrary acts by government, providing a system f checks and balances, or a system f multiple veto points so that political power remains checked. Efficiency is a question f how well institutions perform and the extent to which rent seeking is prevented. Much f the discussion around differing forms f democracy has centered around presidentialism versus parliamentarism, focusing heavily on the developed countries. As some find, there is little heterogeneity among the richer countries where the presidential and parliamentary forms share many features in common and where outcomes may in fact be similar despite different organizational form. (Moltedo 30-31) Moreover, others have s... In other words, social norms, such as civic virtue and norms f reciprocity, and trust are also thought to be crucial. (Pierson 83-98) Globalization has become one f the biggest issues in the economic world today. In the past few years, the gradual processes that gave companies time to adjust have gone. The pace f globalization has increased dramatically, meaning that in probably less than twenty years; our economy will be virtually completely global. What exactly is "the common good" More recently, Velasquez et al (2005) cited the contemporary ethicist, john Rawls who defined the common good as "certain general conditions that are... equally to everyone's advantage". While the Catholic religious tradition, defines the common good as "the sum f those conditions f social life which allow social groups and their individual members relatively thorough and ready access to their own fulfillment". The concept f Globalization is frequently utilized but rarely defined. According to United Nations Development Programme (UNDP), Globalization broadly refers to the explosion f global linkages, the organization f social life on a global scale, and the growth f global consciousness, hence the consolidation f world markets. (Seaton 110-115) The common good, consists primarily f the social systems, institutions, and environments on which MNCs operate, MNCs thereafter have liabilities to make commitment to develop the common good. Background information f economic globalization and Corporations will be discussed, followed by the context f the common good and its implications under the circumstance f globalization and MNCs' activities. Then the discussion will remain the present existence f both "positive" and "negative" outcomes, environmental