“SUMMARY OF THE MORAL IMPERATIVES OF GLOBAL CAPITALISM: ANOVERVIEW”The article is written by “John H. Dunning” and deals with what moral standards,conditions and foundation which help in achieving acceptable Global Capitalism and it discussessome global concepts. The political event, “the fall of the Berlin wall” and the technologicalevent “the burgeoning of the Internet and e-commerce” coupled with the extensive liberalizationof cross-border markets”, and the “advent of new players on the world economic stage” – allcaused a “new era for the global community”. Earlier only the positive aspects of Globalizationwere known, later its negative shades came into light and those increased with September 11,2001 events. The author felt that if we can “get it right”, people can reach many social andeconomic goals by “Global Capitalism” that no other alternative can offer. Getting the right wayof it can be achieved by proper understanding of the limits and challenges of globalization in abalanced way.The author poses three propositions, the first is Responsible Global Capitalism (RGC),which he feels is the means to provide a better life style for people and to advance the objectivesof economic concern and transform the society socially. The second is the need for strengtheningand reconfiguring the organizational structures and managerial strategies to achieve “Globalcapitalism” that is acceptable. Third is that ethics and morals help for the achievement andsustenance of RGC.The author then discusses some global concepts – “globalization”, “the global marketplace” and “global capitalism”. As per author’s view, “globalization” means “connectivity” ofpeople and institutions across the world and Internet acts as the primary vehicle that drives it. Inhis view globalization is neither good nor bad but rather it is a neutral concept. He refers to “theglobal market place” as a place that offers free flow of goods, services and information globallyand its features like quantity, quality and pricing is done by global participants. Author mentionsthat “Global Capitalism” is a complex concept which refers to the network of numerousnational/regional capitalist systems where in there is free flow of goods, services and eveninformation. Responsible Global Capitalism includes not only global markets but also non-marketinstitutions which characterize the global society. Responsible Global Capitalism consists ofpeople, private institutions, NGOs, supranational agencies and governments each playing theirown critical role to advance and sustain goals of Responsible Global Capitalism. Some criticizeglobalization for variety of reasons. All participants should follow some moral and ethicalstandards to achieve “Global Capitalization” that is acceptable to meet its demand. Thesestandards consider questions like- “what goods and services should be produced”, “how andwhere best to produce them” and “how should the benefits be distributed”. Author next gave hisviews on about reflections of moral dimensions of Responsible Global Capitalism whichinvolves social and cultural aspects of society.The tasks of Responsible Global Capitalism can be summarized as to answer the abovementioned three questions and the author explains each of those elaborately. The author thentalked about the history of Capitalism and the four aspects of contemporary global society andthen introduces opportunities and problems to Responsible Global Capitalism institutions. Theknowledge and experience now is more improvised than earlier days to face challenges and tocorrect imperfections of global market place. However, contemporary capitalism includesvolatile features than before. He then discusses “the moral dimension of RGC”. He gave in-depthinsight into the roles of four institutions having global capitalism and their influence on moralecology and vice-versa. We can summarize this topic and draw a conclusion that there existsdifferent set of morals – those which are accepted universally and those which are limited toparticular people, society or institutions. He then discussed some virtues like “creativity,cooperation and compassion” addressing them as the 3C’s which are significant to globalization.He felt that the Responsible Global Capitalism exposes ideologies of different religions,stages of their economic development, their behavioural values and their competencies of non-market institutions. The author answered the best way to achieve the improvement of moralstandards of institutions of Responsible Global Capitalism in top- down and bottom-upapproaches with examples. In the first approach, these standards are encouraged on one group byanother group of institutions or of people at higher governance levels. This approach helps to seehow Responsible Global Capitalism tasks can be upgraded. In the second approach, consumersshow influence on markets not to store certain products and with corporations not to buyproducts from suppliers who violate commonly acceptable business practices. He concludes thechapter by discussing the driving force of moral behaviour from various sources. These sourcesinclude “enlightened self-interest”, “adherence to global ethics”, “revealed