Corporate power and the globalization process

Abstract

Abstract Looks partially toward a conceptual clarification of globalization interrelated to corporate power. The global economy has experienced structural transformation over time. An integrated network of world trade has evolved in the context of two separate stages. Stage one appeared during the period of the 1870s. The second stage appeared during the post Second World War era. To distinguish this period from stage one, the process of structural transformation now taking place is conceptualized and demarcated as corporate globalization. Given the growing increase in size, power and dominance of the MNCs, the locus of sovereignty is currently being questioned. An issue currently being raised relates to whether or not nation states or MNCs will be in control of the globalization process. Interjects and analyses the theory and policy of free trade, all of which is contained in a paradigm of culture evolution fed by the dynamics of technological change and economic development.