This chapter will enable you to:
- consider whether free trade is really free and the effect of competition on development;
- evaluate whether the West has a moral imperative;
- appreciate the separation of ownership from control and the principles of agency theory;
- consider the objectives of shareholders generally, institutional investors in particular and the principle of fiduciary capitalism;
- contemplate the power of modern commercial management;
- contrast the approach with that of the public sector including the recommendations of the Nolan Committee.
In this chapter we start at the very beginning, which, as Julie Andrews observed, is a very good place to start. In order to help us understand ...