Abstract
We discuss issues pertaining to the political economy of globalization in the context of the seminal contribution by Stephen Hymer. While Hymer’s contribution to the theory of the transnational corporation and foreign direct investment is widely recognized, his contribution to the political economy of what he called “multinational corporate capital” has received less attention. In this paper, we revisit some of the issues he raised, notably uneven development, global governance and central planning in the context of post-Hymer scholarly thinking and the shifting global landscape. In so doing, we also speculate on the challenges and future of globalization.
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