ABSTRACT
This chapter offers some intrinsic paradoxes of global capitalism, looks at its objectives, describes some of its unique features, and examines some of its costs and benefits. Sustainable global capitalism must rest on the acceptance and promotion of such basic human rights as social justice, liberty, fraternity and the absence of racial and religious discrimination. The chapter aims to distinguish between 'ideal' and 'actual' global capitalism. It suggests that the framework should consist of three building blocks, each of which represent the presence or absence of three sets of virtues which are especially germane to global capitalism, viz. creativity, cooperation and compassion. The chapter focuses on the four key institutions of global capitalism, and it is the content and governance of each of which argues that to be reconsidered or reconfigured in the light of the unique features of global capitalism. Four main institutions of global capitalism are markets, intermediate associations, governments and supra-national entities.
