As if God existed: religion and liberty in the history of Italy

Abstract

Develtere spends almost no time discussing the role of foreign direct investment (FDI) in alleviating poverty. He cites the case of Repsol as the role model for appropriate transnational corporate (TNC) behavior. Tell that to President Cristina Fernandez de Kirchner of Argentina, who nationalized Repsol’s YPF SA in April 2012 and the late President Hugo Chavez of Venezuela, who on July 24, 2012, threatened Repsol against taking any action against Argentina. I would emphasize that foreign direct investment provides tax revenues and job creation! A quick look at the World Investment Report 2012 reveals the positive impact of the $1.5 trillion in FDI that took place in 2011: $904 billion were greenfield projects of which developing and transition countries received 55 percent, sub-Saharan Africa received $37 billion, Latin American received $211 billion, and LDCs received $33.3 billion. Foreign affiliates of TNCs support 69 million jobs. Transnational corporations have signed Corporate Social Responsibility Codes and set supplier codes for Social and Environmental performance standards. I could go on. Overall, the book is worth a read. I would also suggest that his next edition include a subject index.