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The IUP Journal of Law Review :
The Concept of Right to Development in the Neoliberalism Era with Reference to Transnational Corporate Accountability
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In the neoliberalism era, the concept of Right to Development (RTD) plays a crucial role for the development of an individual as well as institution. The RTD—treated as third generation right—has wider scope in its interpretation because of its unique mixture of both civil and political rights and economic and social rights. The RTD had its influence from western capitalism and eastern socialism. This paper tries to focus on the impact of RTD on the Transnational Corporations (TNCs) and the role of TNCs in the development process of the host country. The paper finds as to how the TNCs, under the umbrella of development, change the dynamics of accountability in a new sense. Besides, the concept of RTD is not intended for the TNCs to escape their liability from accountability. The paper also enlightens as to how the concept of RTD has been misinterpreted and misconceptualized by the TNCs. The paper tries to draw a cordial relationship between the development and accountability concepts of TNCs with some suggestions.

 
 
 

The Right to Development (RTD) is an inalienable human right, by virtue of which every human person and all peoples are entitled to participate in, contribute to, and enjoy economic, social, cultural and political development, in which all human rights and fundamental freedoms can be fully realized.1 The definition of ‘development’ is a comprehensive economic, social and cultural process, which aims at the constant improvement of the wellbeing of the entire population and all individuals, on the basis of their active, free and meaningful participation in the development and the fair distribution of the benefits. Unless the people meaningfully participate in the process or in the distribution of benefits, it will not be regarded as development. The process of development is regarded as one of the fundamental freedoms which is capable of being realized and can qualify as an object of the claim as human right.2

The concept of RTD focuses not only on the ends but also the means of the development. The goals and the outcomes of development as the realization of rights are ends.3 The RTD is the process of development for the realization of civil and political right’s and economic, cultural and social rights and entails certain obligation. This is called as right-based approach to the development. The term RTD can expose either in the form of individual or group rights. With the emergence of the neoliberalism era,4 the scope of RTD has been increased and resulted in various interpretations, which led to misunderstanding of the concept.5

 
 
 

Law Review Journal,Right to Development (RTD) plays,Transnational Corporations (TNCs) and the role of TNCs, International Labor Organization (ILO) implementing .