Guillaume Vuillemey, 27 September 2020

The maritime shipping industry has been the backbone of globalisation, carrying 80% to 90% of global trade flows. This column shows that over the past four decades, shipping firms are being systematically structured to evade corporate responsibilities. Potential tort liabilities, for example in case of an oil spill, are evaded by registering each ship in a different subsidiary; regulatory standards are evaded by using flags of convenience; and long-term responsibilities related to ship recycling are evaded using so-called last-voyage flags.

Catherine Casson, Mark Casson, John Lee, Katie Phillips, 07 May 2017

Contemporary businesses are frequently challenged to invest the profits from their commercial successes into projects that benefit society. Yet this is not a new concept – this column reports that it began as early as the medieval period. Profits from property speculation in the Middle Ages were re-invested into local communities. Compassionate capitalism involved high levels of charitable giving to hospitals, monasteries, churches, and colleges, which helped to disseminate the economic benefits of investments from individuals to the wider community. 

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