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The Transnational Corporation: A Synthesis

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  • Christos Pitelis

    (University of St Andrews, Scotland.)

Abstract

Existing theories of the transnational corporation (TNC) tend to focus exclusively on the supply-side or demand-side factors leading to internationalization of production and the TNC. In this paper we attempt to integrate these two sets of factors. We suggest that supply-and demand are dialectically linked. Competition in the supply side, leading to increasing concentration and centralization of capital, tends to result in a demand side of stagnation, internationalization of capital and the TNC. Within this framework a host of supply-side factors can provide an ex-ante explanation of the TNC; most notably power over markets, labor and the nation state as well as internalization of market transaction costs. Ex-post, oligopolistic reaction and increased international competition will fuel the process.

Suggested Citation

  • Christos Pitelis, 1989. "The Transnational Corporation: A Synthesis," Review of Radical Political Economics, Union for Radical Political Economics, vol. 21(4), pages 1-11, December.
    • Handle: RePEc:sae:reorpe:v:21:y:1989:i:4:p:1-11
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