U.S. Urged to Monitor Global Labor Policies

More can be done by government to encourage global best practices, say leaders of both multinational corporations and academic institutions. In fact, a study group comprised of businessmen and academics recently sent the US government 18 recommendations on social responsibility, such as requiring US companies to be liable for overseas actions, encouraging socially responsible purchasing by federal agencies, and tracking how federal policies affect corporate behavior overseas. The study group also suggested that the Securities and Exchange Commission require companies to report on how their social and environmental policies overseas affect their bottom line. The group will soon present their recommendations to cabinet members in the Bush administration and has already suggested that one way to promote social responsibility is through the Millenium Challenge Account, a program proposed by the Bush administration in which countries would receive development aid from the US if they show that their governments operate fairly. – YaleGlobal