South By North Strategies, Ltd.

Writing in the alumni magazine of the University of Notre Dame, Carolyn  Woo, the dean of the university’s college of business, argues that economic globalization can’t work absent a larger vision of “the global good.” Writes Woo:

“Free market” is a misnomer; no markets are even close to free. Taxes, regulations, standards, tariffs, investment incentives, trade agreements, social institutions for education and health, physical infrastructures for transportation and communication, all come together to shape, enable, restrict, facilitate and hinder the activities and competitiveness of business. Whether or not globalization works for a country depends critically on the prudence and fortitude of its government in formulating corresponding strategies, policies and programs.

She continues:

Globalization has eased some of these problems, and I believe proper business practices followed by men and women of moral character with a people-centered sense of responsibility can indeed deliver on the vision of the common good. I see the recurrent worldwide miseries as a call to make globalization work for more people, not as a justification for retreat. The latter is neither feasible nor effective in raising the quality of life.
…
Trade is a necessary good, not a necessary evil. However, the “invisible hand” of markets cannot become “fists” — “handshakes” must prevail as the most common form of interaction. The solution for the Ethiopian flower farms is not to stop operation but to adopt strict environmental controls that safeguard worker health and safety, invest in water recycling methods to preserve the water table, develop effective irrigation approaches to increase crop yield, raise prosperity for the villagers and offer opportunities for children, particularly girls, to get an education.
…
I want to enjoy the roses, yes, at a higher price, and know that I am part of a global supply chain that lifted people out of poverty rather than exploited their lack of bargaining leverage.