Chapter

Big Business Stability and Social Welfare

Kathy Fogel, Randall Morck and Bernard Yeung

in Financial Sector Development in the Pacific Rim

Published by University of Chicago Press

Published in print April 2009 | ISBN: 9780226386843
Published online February 2013 | e-ISBN: 9780226386867 | DOI: http://dx.doi.org/10.7208/chicago/9780226386867.003.0024
Big Business Stability and Social Welfare

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This chapter examines whether countries with more business stability pay the price of lower growth but also reap the benefits of greater social justice. That is, it asks whether greater business turnover is systematically associated with a worse social infrastructure, as manifested in less liberty, fraternity, or equality. A wide range of indicators of social well-being are considered, including measures of environmental degradation, health, education, poverty, inequality, and fundamental rights. The study finds no evidence that business stability is associated with better social outcomes.

Keywords: business stability; social justice; business turnover; social well-being; environmental degradation; health; education; poverty; inequality; rights

Chapter.  10868 words.  Illustrated.

Subjects: Business and Management

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