Is the locus of class development of the transnational capitalist class situated within nation‐states or in the emergent transnational space?

Abstract

AbstractThe rise of the modern corporation has disrupted the class structures of nation‐states because, in the era of globalization, such reorganization now occurs across borders. Yet, has globalization been deep enough to facilitate the emergence of a transnational capitalist class (TCC) in which both class formation and consolidation processes are located in the transnational space itself? I contribute to our understanding of the TCC by contrasting the personal characteristics, life histories and capital endowments of members of the British corporate elite with and without transnational board appointments. The existence of the honours system in the UK allows us to compare individuals objectively in terms of their symbolic capital and to link this trait to embeddedness in the TCC. By studying 448 directors from the 100 largest firms in the UK in 2011, I find evidence of a TCC with a class consolidation process that is located within transnational space, but whose class formation dynamics are still tethered to national processes of elite production and reproduction.