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Books > Social sciences > Sociology, social studies > Social issues > Unemployment
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A Corporate Solution to Global Poverty - How Multinationals Can Help the Poor and Invigorate Their Own Legitimacy (Paperback)
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A Corporate Solution to Global Poverty - How Multinationals Can Help the Poor and Invigorate Their Own Legitimacy (Paperback)
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World leaders have given the reduction of global poverty top
priority. And yet it persists. Indeed, in many countries whose
governments lack either the desire or the ability to act, poverty
has worsened. This book, a joint venture of a Harvard professor and
an economist with the International Finance Corporation, argues
that the solution lies in the creation of a new institution, the
World Development Corporation (WDC), a partnership of multinational
corporations (MNCs), international development agencies, and
nongovernmental organizations (NGOs). In A Corporate Solution to
Global Poverty, George Lodge and Craig Wilson assert that MNCs have
the critical combination of capabilities required to build
investment, grow economies, and create jobs in poor countries, and
thus to reduce poverty. Furthermore, they can do so profitably and
thus sustainably. But they lack legitimacy and risk can be high,
and so a collective approach is better than one in which an
individual company proceeds alone. Thus a UN-sponsored WDC, owned
and managed by a dozen or so MNCs with NGO support, will make a
marked difference. At a time when big business has been demonized
for destroying the environment, enjoying one-sided benefits from
globalization, and deceiving investors, the book argues, MNCs have
much to gain from becoming more effective in reducing global
poverty. This is not a call for philanthropy. Lodge and Wilson
believe that corporate support for the World Development
Corporation will benefit not only the world's poor but also company
shareholders as a result of improved MNC legitimacy and stronger
markets and profitability.
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