More Globalization stuff

What should corporations take responsibility for, according to the Global Compact described by Robinson? Why does she think it is important for corporations to take on broad responsibility for dealing with global issues? How do voluntary initiatives such as the Global Compact relate to government action in addressing global problems?
According to the Global Compact there are three aspects that need to be taking in to consider ration. The first one deals with Human rights and how corporations should not knowingly violate them, “With respect to human rights, corporations should first, ensure that they support and respect Human Rights and second, ensure they are not themselves complicit in human rights abuses.” (Beyond Good Intentions: Corporate Citizenship for a New Century Mary Robinson) The second aspect deals with labor standards, “On labor standards, businesses should uphold freedom of association and collective bargaining and make sure they are not employing underage children or forced labor, either directly or indirectly, and that in their hiring and firing policies they do not discriminate on grounds of race, creed, gender or ethnic origin.” (Beyond Good Intentions: Corporate Citizenship for a New Century Mary Robinson) The third and final aspect of the Global Compact is: “And in relation to the environment, companies should support a precautionary approach to environmental challenges, promote greater environmental responsibility and encourage the development and diffusion of environmentally friendly technologies.” (Beyond Good Intentions: Corporate Citizenship for a New Century Mary Robinson)
The problem with the Global Compact it seems is that these are promises and not laws. The general population does not believe that big corporations have “hearts” so naturally these promises do not mean much. On the other hand a government action is usually a law that is punished if not upheld. This makes the population feel like corporations are more willing to follow rules. The problem with this is that these government actions are usually written from the perspective of an industrialized government. This means that they will not think about the subcultures in the countries that are having these problems. They will think on the scale of African culture but not on the scale of Chad culture versus Nigeria culture.

What are the “discontents” and the “darker side” of globalization, according to Stiglitz? How does he assess the consequences of market liberalization? What does he mean by “governance through ideology” and what should replace it?
The “discontents” and “dark sides” of globalization is according to Stiglitz is that it is only allowed to work if we (the USA) approve of how it is being used. Even though a country might be doing well, the U.S. government feels that it needs to be involved. As an example this article talks about Korea, they had a very prosperous steel industry, had being the key word. “Financial markets were highly regulated. My research showed that regulations promoted growth. It was only when these countries stripped away the regulations, under pressure from the U.S. Treasury and the IMF, that that they encountered problems” (Globalism’s Discontents, Joseph E. Stiglitz)
The problem with market liberalization is that is screws small countries. Again, we have rules set up that have to be followed and if a small vulnerable country does not follow them then they are screwed. The example that states that best is the following: “the country is borrowing $100 Million from the [U.S.] and lending $100 million to the [U.S.]. But when it borrows, it pays a high interest rate, 20 percent; when it lends, it receives a low interest rate, around 4 percent. This may be great for the [U.S.], but it can hardly help the growth of a poor country.”
I believe what is meant is that the IMF does not consider that democracy is not enough to make a country function. It needs more than a political system it needs everybody in the country to believe in that system. For example in Iraq they had a democratic election, however, I doubt they are ready to function effectively in globalization. The IMF should be replaced with an organization that is willing to take these problems into account.