Life on the Edge: Can Social Economy Rescue the Perishing?
Business organisations are being increasingly asked to provide innovative solutions to deep-seated problems of human misery even as economic theory instructs managers to focus on maximising their shareholders’ wealth. Depicting the hold that economics has on how the relationship between the firm and society is conceived, this paper attempts to provide a conceptualisation of the social economy approach and what it entails. It assesses how social economy has, thus, responded to this tension over corporate involvement in the wider social life by using its involvement in the apparel sector as an example. It concludes that social economy has assumed a universality, which, in the main, has proved worthy of note, in that, it has been able to develop a path, that is both global, and which is based upon solidarity, necessitating the concept to be embraced in the light of its importance in humanising economic initiatives and the promotion of social solidarity.
KeywordsApparel industry Globalisation International retailers Morals Social economy Solidarity Outsourcing
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