The role of law and ethics in the globalized economy

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International conferences require extensive planning, especially when involving high-ranking figures from politics, business, and academia addressing pressing contemporary issues. The conference on “The Role of Law and Ethics in the Globalized Economy,” held on May 22 and 23, 2008, at the Bavarian Academy of Sciences and Humanities in Munich, exemplifies this. Preparations began in late 2006, long before the emergence of the subprime crisis and the subsequent turmoil in the global financial system. The event aimed to analyze the state of globalization, considering its effects on economic, technological, and social environments. It served as a platform for discussing how various interest groups in politics, business, and academia navigate the challenges posed by globalization. Ultimately, the conference sought to formulate proposals for establishing conditions that promote "upwards" global competition. This entails developing minimum standards that ensure humane living and working conditions, thereby mitigating potential societal frictions both nationally and internationally. The discussions aimed to foster a more equitable global environment, addressing the complexities of globalization while promoting ethical and legal frameworks.