Transnational corporations in twenty-first century capitalism

Abstract

Purpose – The purpose of this paper is to discuss economic and social issues of contemporary capitalism through the views and works of Grazia Ietto-Gillies who has a long experience of research in these fields. The issues relate to strategies of TNCs, to globalization and transnationalization, to internationalization indices, to linkages between innovation and internationalization, to uneven development, and, finally, to issues related to the economics profession and the dissemination of research in the twenty-first century. Design/methodology/approach – In-depth interview; use of relevant literature to support statements by interviewer and interviewee; qualitative analysis of issues discussed. Findings – The article links together under the same theoretical umbrella the following issues: a theory of TNCs based on strategic approach towards labour, governments and suppliers; the development of an internationalization index based on the geography of TNCs' networks; and the possible impact of internationalization on innovation. Uneven development is linked to current problems in Europe. The need and opportunity to reconsider the economics profession and the peer review system in the digitalization era is presented. Research limitations/implications – The article is based on the views of the interviewer and the interviewee. Their views are backed by their own previous research as well as by research by other scholars cited in the article. Practical implications – The interview draws policy implication in relation to TNCs and other actors who interact with them such as labour and governments. There are also policy implications in the economic and social spheres regarding the implications of TNCs' strategies and the aftermath of the 2007/2008 crisis. Originality/value – At the methodological level the article highlights the advantages of in-depth interviews. Specifically, it allows the interviewee to give an overall perspective on her research and to show how the various strands are connected and how they developed through the decades of her research. It allows both interviewer and interviewee to link the issues to a variety of literatures in the economics, sociology and politics fields.

The MNE as the “crown of creation”?: a commentary on mainstream theories of multinational enterprises

“…As this approach has a lot in common with the dynamic capability view discussed below, it is not treated here as a special version of evolutionary theory. See also Sprague and Ietto-Gillies (2014).…”

The Main Ways of Interpreting the Phenomenon of Transnational Corporations in Social Sciences

“…Способность планирования, организации и контроля деятельности в разных странах «даёт им (транснациональным корпорациям -Прим.) определенные преимущества, когда они имеют дело с акторами, такими как работники или даже правительства, которые не могут работать и координировать действия настолько эффективно через национальные границы» [27,41].…”

The Caribbean Cruise Ship Business and the Emergence of a Transnational Capitalist Class

“…Through technological and networked development, new models of corporate organization have emerged worldwide. Scholars Peter Dicken (2007), Grazia IettoGillies (2012) and others have shown the centrality and the activities of transnational corporations (TNCs) in the global era (See also : Sprague, 2014b). Through functionally integrated networks of production and finance, TNCs have been able to "cut through, and across, all geographical scales, including the bounded territory of the state" (Dicken 2007: 13).…”