Accountability for Responsibility: An Assessment of the Transnational Capitalist Class’ Role in Driving a Global CSR Agenda

Abstract

Globalisation has led to the establishment of a new hierarchy of leadership. At the helm is the Transnational Capitalist Class (TCC), which oversees the direction of Multi National Corporations (MNCs) at a global level. Can the TCC, as leaders in the governance agenda, drive a global CSR agenda, or, perhaps, the question should be: do they want to drive a CSR agenda?

The hypothesis of this article is that, as the structure of global leadership and governance has changed, so too has the potential for aligning national CSR agendas to a globally accepted standard. This is unlikely due to systematic limitations inherent in a transitional structural realignment of global leadership. Whereas the design of global leadership has changed due to processes of globalization, the bodies that can regulate this leadership have not developed at the same pace. Regulation on issues such as CSR remains at national, federal and supra-national levels suggesting that TCCs have a free reign in dictating agenda. This new class (TCC) may bear a responsibility for CSR but there is a lack of accountability if it is not fulfilled.

Keywords: Leadership, Global Leadership, Transnational Capital Class, Accountability, Responsibility, CSR, Globalisation, Corporate Governance