The Globalization Paradox
Though it would seem that only global cooperation can solve global environmental problems, globalization in its current form works against sustainability. WTO-style capital liberalization causes investment to shift quickly to the site of highest returns, irrespective of national borders. To a far greater extent than in the past, fear of disinvestment causes CEOs to strive for maximum short-term profits.
It doesn’t take a genius to understand that corporate short-termism is incompatible with long-term sustainability.
When all operational inefficiencies have been squeezed out of a company, all…