There’s been, for instance, extensive critique for the telecommunications and banking companies for failing woefully to fulfill their sensed obligations — especially in light of the profitability. 39 Dissatisfaction utilizing the self-regulating telecom industry has recently caused major customer organisations to boycott the Australian Communications Industry Forum — the industry human body in charge of self-regulation. 40 Despite suffered critique that industry self-regulation fails customers, it continues to be the policy device of very very first option for main-stream organizations. That this is actually the full situation is regrettable. Self-regulation is premised from the foundation that industry is most beneficial put become profit-maker and customer protector — during the exact same time. It really is wonder that is little self-regulating companies seldom attain anything approaching a good stability among these two contending needs. 41

just What of the companies whoever core business is inherently reckless? The rhetoric of corporate citizenship, triple bottom line, good governance, and sustainability becomes meaningless in these industries. 42 Might we expect governments, despite their dedication to ‘light-handed’ regulation, to do something decisively in protecting customers from such industries? Continue reading →