The Social Science Library » Multinational Corporations, Capital Mobility and the Global Neo-liberal Regime: Effects on Northern Workers and on Growth Prospects in the Developing World

Multinational Corporations, Capital Mobility and the Global Neo-liberal Regime: Effects on Northern Workers and on Growth Prospects in the Developing World

Author(s)	Crotty, James R.; Epstein, Gerald; Kelly, Patricia
Abstract	In this paper we analyze two related aspects of the current globalization process. The first is the relation between the activities of multinational corporations (MNCs) and the economic well being of workers in the North. In particular, we ask whether the increase in capital mobility associated with the world-wide movement of liberalization, deregulation, and privatization has contributed to the problems of high unemployment, wage stagnation and rising inequality. The second concern of the paper is the impact of the evolution of the Neo-liberal global regime (NLR) itself on economic well-being in the North and South. Here we make two basic arguments. First, neo-liberal institutes and practices tend to generate inadequate global aggregate demand growth and thus high global unemployment, unleash destructive competitive processes, and weaken the government’s ability to regulate business in the interest of the public. Second, the force of global neo-liberalism is so powerful that it has become difficult, if not impossible, for countries to maintain a non-neo-liberal economic structure.
IssueNo	4
Pages	297-340
Article	Access to Article
Source	Seoul Journal of Economics
VolumeNo	10
PubDate	Winter1997
ISBN_ISSN	1225-0279

Multinational Corporations, Capital Mobility and the Global Neo-liberal Regime: Effects on Northern Workers and on Growth Prospects in the Developing World

Globalization