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Global Nomadism and Moral Standards

  • Josef Wieland
Chapter
Part of the Ethical Economy book series (SEEP, volume 48)

Abstract

This chapter examines the dimension of globalization in economics and politics with regard to the Governance Ethics. It highlights the fundamental challenges of moral order for economy in and of a global world. Globalization requires stable cooperative relationships as a precondition. Cooperation however requires sufficient rules of the game and their implementation, which exist only incompletely at the global level. It is argued that under these conditions the values and virtues of individual and collective economic actors, who are decisive actors in the process of globalization, acquire a fundamental importance. The chapter examines factors of the governance of economic transactions, namely the ideas and conceptions on morality which should apply in economic exchange (internal self-commitment regimes and informal institutions) and the legal framework and its establishment and enforcement (formal institutions and organizational mechanisms of coordination and cooperation), which could potentially remedy the institutional and organizational deficit of globalization.

Keywords

Global Economy Formal Institution Informal Institution Moral Order World Society 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer International Publishing Switzerland 2014

Authors and Affiliations

  • Josef Wieland
    • 1
  1. 1.Zeppelin UniversityFriedrichshafenGermany

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