Abstract
The article studies NGO's successful work on corporate campaigns for higher environmental or labor standards and what applied peace economists may learn from such campaigns. By way of example, the article employs the No Dirty Gold (NDG) as a model. Two main conclusions are offered. First, a corporate campaign is likely to be more successful if a target industry or company has valuable brand names to protect and sells a non-essential product in a marketplace where substitutes are readily available. Second, economists can contribute to the success of such campaigns by using their analytical tools to raise the media profile of a corporate campaign, to reach large numbers of consumers, and to work effectively with corporations that are responsive to the issues raised in the campaign.
Highlights
Academic economists have had a great impact on actors in financial marketplaces: the Black-Scholes options-pricing model for instance spawned an industry on Wall Street
In a climate of rising prices, the No Dirty Gold” (NDG) campaign could provide a deontological rationale for consumers to avoid buying gold jewelry when the real reason might be that the jewelry seems overpriced by historical standards
The NDG campaign has had rapid successes in bring jewelry retailers on board, suggesting that Oxfam America and Earthworks have tapped into a mother lode of influence by appealing to companies that depend on consumers
Summary
Academic economists have had a great impact on actors in financial marketplaces: the Black-Scholes options-pricing model for instance spawned an industry on Wall Street. Economists have had trouble in recent years affecting issues of war and peace, even though since Adam Smith many economists have stressed the destructive and wasteful nature of wars. United States military decisions appear to have been made either independently of economic analysis or with such analysis buttressing plans to invade countries with valuable natural resources
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