Law, Business Strategy, And Social Change In The Global Environment

Abstract

In this article, we examine the dynamic relationship between law, economics, and sustainability. Increased legal regulation is not a sufficient condition for the mitigation of economic and social crises. Corporations are not legally required to respect global social and human rights under international law. In addition, select legal regulations increase social harm through the preservation of corporate financial interests. Laws that attempt to protect social rights at the expense of corporate interests can provoke hostile reactions from the business community. However, recent trends and examples from within the pharmaceutical and information industries suggest a new era of global corporate citizenship where socially responsible organizations achieve profit through pursuing ethical goals.