A DRAFT MANIFESTO for the West Midlands New Economics Group: Alan Clawley 24 June 2000
- Everyone agrees that Transnational Corporations (TNCs) are so big that they can avoid any responsibility to local communities.
- Like any other business, TNCs are driven by profit for shareholders above all else.
- WMNEG does not condemn profit in itself but wants TNCs and all businesses to be accountable not only to shareholders but to employees, consumers and local communities.
- Citizens have so far ensured accountability through democracy but TNCs and business are on the whole not democratic.
- TNCs can and do by-pass local democratic institutions if they do not like what they do. National governments believe that they are powerless to control TNCs lest they put their economies at a disadvantage in the global market.
- If they want to control TNCs and make them accountable to communities all the nation states will have to get together and agree what is to be done.
- There is no supra-national machinery at present that can do this job. Those that do exist, such as the World Trade Organisation and the European Union are all the side of the TNCs and in favour of removing even more barriers to their freedom.
- The United Nations could do it if it were given the resources and the mandate to do the job. It could become an integral part of its role to prevent conflict between the nations of the world.
- In the meantime those of us including WMNEG who criticise the operation of TNCs in the global market can only protest and mount negative campaigns.
- The alternative strategy is to support local communities in taking unilateral action to protect themselves from the impact of TNCs and other irresponsible businesses.
- The antidotes to globalism for communities to adopt are:
(a) increased seIf-sufficiency,
(b) resistance to TNCs and
inward investors so as to extract “responsible behaviour” agreements from them,
(c) diversification and break-up of over-dominant industries.
- These tactics could be supported by local authorities and trades unions in particular.
- The role of WMNEG could be to
(a) promote locally self-sufficient economies that rely less on inward investment and TNCs,
(b) promote diverse economies that do not rely on a single large industry,
(c) campaign for a new supranational democratic body to agree the rules by which TNCs will be accountable to local communities and,
(d) argue for the democratic control of business by all its stakeholders.