"To whom, other than its shareholders, is an international corporation answerable? Often they don't anymore employ workers. They outsource manufacturing to places far away. If wages rise in one place, they can almost instantly transfer production to somewhere else. If the tax regime in one country becomes burdensome, they can relocate to another. To whom, then, are they accountable? By whom are they controllable? For whom are they responsible? The extreme mobility of capital, and also of manufacturing and servicing, is in danger of creating institutions that have power without responsibility, as well as a social class, the global elite, that has no organic connection with any other group except itself."
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Original Language: English
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Jonathan Sacks: "Has Europe Lost Its Soul?" (26:22–27:18) (transcript). The Gregorian University in Rome (2011-12-12).
https://en.wikiquote.org/wiki/Globalization
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Globalization
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