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The role of multinationals in the world economy

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Intereconomics

Abstract

Based on trends observed during the ’sixties, a number of forecasts have projected an increasing domination by multinational corporations of the Western economies. By confronting them with the available empirical evidence of the ’seventies, Dr. Winiecki reveals some striking discrepancies between these forecasts and the realities of the past decade, the interpretation of which may contribute to a more realistic assessment of the future role of multinational corporations.

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References

  1. A reasoning of this kind can be found, for example, in: H. Kahn: A View of the Economic World of 1990, in: A Look at Business in 1990. The White House Conference on the Industrial World Ahead, Washington, D. C., 1972, p. 16; R. Lattes: Mille miliards de dollars—Le monde économique de demain, Paris 1969. Polish edition: Warsaw 1973, pp. 21–27, 36, 92–97; J. Polk: The New International Production, in: World Development, Vol. 1, No. 5, May 1973.

  2. Cf. for positions on both ends of the continuum: Synoptic Context One: The Prospect for Mankind and the Year 2000 Ideology, Hudson Institute, Croton-on-Hudson, August 1, 1972; and K. A. Ringbakk: Strategic Planning in a Turbulent International Environment, in: Long Range Planning, No. 3, June 1976.

  3. On this subject see J. Winiecki: Sources of Inflation in the Western Economies. Some Theoretical Considerations, in: Maandschrift Economie, No. 11–12, 1978.

  4. Cf. for example, gradually more pessimistic assessments by E. Rose in “Fortune” of September 15, 1968, August 1973 and August 1977, and in particular his most recent assessment: Why the Multinational Tide is Ebbing, pp. 111–114, 116, 118, 120.

  5. See J. Chopra, J. J. Boddewyn, R. L. Torneden: U. S. Foreign Divestment: A 1972–1975 Updating, in: Columbia Journal of World Business, Spring 1978, No. 1, p. 17.

  6. Business Week, July 9, 1979, p. 51.

  7. Excluding investments in North America. See G. Chandler: The Innocent Oil Companies, in: Foreign Policy, Summer 1977, No. 27, p. 60.

  8. J. Chopra, J. J. Boddewyn, R. L. Torneden, op. cit., U. S. Foreign Divestment: A 1972–1975 Updating, in: Columbia Journal of World Business, Spring 1978, No. 1, p. 17.

  9. Coefficient derived from dividing the number of divestments (see J. Chopra, J. J. Boddewyn, R. L. Torneden, op. cit., U. S. Foreign Divestment: A 1972–1975 Updating, in: Columbia Journal of World Business, Spring 1978, No. 1, p. 16) by the number of new subsidiaries and expansions (see J. B. Rhodes: U. S. New Business Activities Abroad, in: Columbia Journal of World Business, Summer 1974, No. 2, p. 100).

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Authors and Affiliations

  1. Department of International Economic Relations, Polish Institute of International Affairs, Warsaw

    Jan Winiecki

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  1. Jan Winiecki
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This article is a part of a paper prepared for the 2nd Polish-Hungarian workshop on the world economy, Budapest, December 5–8, 1979.

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Winiecki, J. The role of multinationals in the world economy. Intereconomics 15, 231–234 (1980). https://doi.org/10.1007/BF02924578

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  • DOI: https://doi.org/10.1007/BF02924578

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