[Marxism] It's post-imperial: Britain's "The Economist" on the "troisieme age du capitalisme"

Jurriaan Bendien bendien at tomaatnet.nl
Fri Feb 27 04:22:32 MST 2004

"At first, when companies when global, they sold abroad, manufactured at
home and controled their operations from home. In the second phase, both
sales and manufacturing moved around the globe, but control remained firmly
in the hands of the parent's head office - invariable located in the "triad"
of America, Japan and Europe. Today we are seeing a significant shift in the
location of this control. Almost for the first time, multinational companies
are becoming truly global. (...) By 2001... foreign multinationals owned 39%
of the 500 largest companies in Latin America, up from 27% ten years
earlier. (...) More hints as to the shape of the post-imperial multinational
will emerge in 2004. There will be:
- Further dispersion of headquarters (...)
- More outsourcing of key business processes to the developing worl
(increasingly known as "offshoring") (...)
- More integration of managers of different nationalities (...)
- Growing use of R&D from sources other than the firm's own laboratories.
In July 2003 Larry Ellison, the full-blooded American boss of software giant
Oracle, said: "Isn't it remarkable that right now Oracle employs 3,000
Indian citizens, paying constantly increasing salaries, providing a very
high standard of living and helping to create a new middle class?". It will
be even more remarkable when one of those 3,200 is running the company from
his office in Bangalore. Don't doubt it. That day is not far off."

Source: Tim Hindle, "The third age of globalisation", in: The Economist's
"The world in 2004" (London, February 2004), edited by Daniel Franklin,
print edition, p. 107-108.

More information about the Marxism mailing list