A sustainable and resilient socio-economic paradigm through corporate governance intervention

Abstract

The current predicament confronting global society is that wealth was amassed through market-based capitalism, despite the fact that the market system generates insecurity and inequality among social classes. As a result of the shifted social pressure on the political class, the latter is obligated to implement “change for a better future”; in order to restart the capitalist system and put it back on the proper track, the public and private sectors must collaborate on development politics and strategies. This scholarly article identifies the underlying causes of fundamental challenges – social inequality and unsustainable economic growth and development – as well as viable remedies – including the integration of proactive governance systems and the application of corporate business principles to address social issues via the formation of public-private partnerships in emerging economies.

Keywords

• economic growth
• corporate governance
• sustainability
• resilience