Critics and defenders of multinational corporations often agree on at least one thing: that the activities of multinationals are creating an overwhelmingly powerful global market that is quickly rendering national borders obsolete. The authors of this book, however, argue that such expectations commonly rest on a myth. They examine key activities of multinational corporations in the United States, Japan, and Europe and explore the relationship between corporate behavior and national institutions and cultures. They demonstrate that the world's leading multinationals continue to be shaped decisively by the policies and values of their home countries and that their core operations are not converging to create a seamless global market.
 With a wealth of fresh evidence, the authors show that Japanese and German multinationals, in particular, remain only weakly committed to laissez-faire policy orientations and continue to exhibit strong allegiance to national goals in such areas as investment and employment. They also bring to light the consequences of enduring differences in government policies on, for example, industrial cartels, capital markets, and research and development.
 The authors agree that the world economy is becoming more complex and integrated as overt barriers to trade and investment fall away. But they conclude that the extent of this integration is decisively limited by structural divergence at the level of the firm. The book will be essential reading for those seeking to understand the growing interdependence of still-distinctive industrial societies and the wellsprings of the true global economy.

The Myth of the Global Corporation

Business & Money

Reich, Simon

Pauly, Louis W.

Keller, William W.

Doremus, Paul

Economics

Princeton University Press

Opening Financial Markets: Banking Politics on the Pacific Rim (Cornell Studies in Political Economy)

"Opening Financial Markets is a model of extensive research and elegant exposition. It is a meticulous study of an increasingly important development in financial markets that will inform, guide, and please the lawyer, economist, banker, or policymaker."--Joseph Gold, Senior Consultant, International Monetary Fund    "This well-reasoned comparative analysis of financial regulation in four industrialized countries . . . offers rich case-studies to students of public policy. . . . [A] welcome addition to the Cornell series, Studies in Political Economy."--International Journal

Cornell Univ Pr

A former banker and staff member of the International Monetary Fund, Louis W. Pauly explains why people are deeply concerned about the emergence of a global economy and the increasingly integrated capital markets at its heart. In nations as diverse as France, Canada, Russia, and Mexico, the lives of citizens are disrupted when national policy falls out of line with the expectations of international financiers. Such dilemmas, ever more conspicuous around the world, arise from the disjuncture between a rapidly changing international economic system and a political order still constituted by sovereign states. 
The evolution of global capital markets inspires an understandable fear among people that the governing authorities accountable to them are losing the power to make substantive decisions affecting their own material prospects and those of their children. Pauly points out that today's capital markets resulted from decisions taken over many years by sovereign states, and particularly by the leading industrial democracies, who simultaneously crafted the instrument of multilateral economic surveillance. The effort to build adequate political foundations for global capital markets spans the twentieth century and links the histories of such institutions as the League of Nations, the International Monetary Fund, the European Union, and the Group of Seven.

Who Elected the Bankers?: Surveillance and Control in the World Economy (Cornell Studies in Political Economy)

Cornell University Press

History

"Opening Financial Markets is a model of extensive research and elegant exposition. It is a meticulous study of an increasingly important development in financial markets that will inform, guide, and please the lawyer, economist, banker, or policymaker."--Joseph Gold, Senior Consultant, International Monetary Fund 
"This well-reasoned comparative analysis of financial regulation in four industrialized countries . . . offers rich case-studies to students of public policy. . . . [A] welcome addition to the Cornell series, Studies in Political Economy."--International Journal

Political authority in today's leading democracies rests on generally shared perceptions by a given people that their government is responsible to them and grants each individual citizen legal equality. Yet since the dawn of the industrial age, democratic governments have in fact presided over economic systems that function on the basis of an unequal distribution of real resources. This thought-provoking book explores the widening gap between legal ideal and economic reality, which in turn undermines the inherent legitimacy of democratic systems. Closing that gap, moreover, is much more difficult when economies become "global" and the boundaries separating the people of different democracies are eroded. Distinctive bonds between political power and social obligation begin to break down. The effort of governments to continue governing opens up "democratic deficits." Pressures build to reconstitute political authority beyond the state, and governance-in-practice grows ever more distant from democracy-in-principle. Nowhere is the deepening dilemma more evident than in the European Union. This book examines the contemporary breakdown and transformation of the democratic welfare state in Europe and draws fascinating contrasts with the situation among the signatories to the North America Free Trade Agreement. In a cohesive and insightful collection of essays, a group of distinguished political scientists debates the implications of these trends both for theory and for policy.

Democracy Beyond the State: The European Dilemma and the Emerging Global Order

Greven, Michael Th.

Rowman & Littlefield Publishers

Political authority in today's leading democracies rests on generally shared perceptions by a given people that their government is responsible to them and considers each individual citizen equal under the law. Yet since the dawn of the industrial age, democratic governments have presided over economies that function on the basis of an unequal distribution of real resources. As globalization opens these economies, the gap between legal, ideal and economic reality widens and boundaries separating “the people” of different democracies erode. This thought-provoking book explores the consequent challenge posed for the inherent legitimacy of democratic systems. When distinctive bonds between political power and social obligation break down, that erosion creates “democratic deficits.” Pressures build to reconstitute political authority beyond the state, and governance-in-practice grows ever more distant from democracy-in-principle.Nowhere is the deepening dilemma more evident than in the European Union. This book examines the contemporary breakdown and transformation of the democratic welfare state in Europe and draws fascinating contrasts with North America. In a cohesive and insightful collection of essays, a group of distinguished political scientists debates the implications of these trends both for theory and for policy.

Democracy beyond the State?

Europe

This insightful book provides an original and thoughtprovoking analysis of the widening gap between democracyinprinciple and governanceinpractice as economic globalization transforms our world. Nowhere is the deepening dilemma more evident than in the European Union. This book examines the contemporary breakdown and transformation of the democratic welfare state in Europe and draws fascinating contrasts with North America. In a cohesive and insightful collection of essays, a group of distinguished political scientists debates the implications of these trends both for theory and for policy.

Democracy beyond the State?: The European Dilemma and the Emerging Global Order (Governance in Europe Series)

The League of Nations and the Foreshadowing of the International Monetary Fund (Essays in International Economics)

International

Princeton Univ Intl Economics

Ithaca 1987. Cornell University East Asia Papers. 8vo., 82pp., wraps. VG.

Regulatory politics in Japan: The case of foreign banking (Cornell University East Asia papers)

China-Japan Program, Cornell University

See the best price to sell, buy, or rent books by Pauly, Louis W.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Pauly, Louis W.

See the best price to sell, buy, or rent books by Pauly, Louis W.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Myth of the Global Corporation

Opening Financial Markets: Banking Politics on the Pacific Rim (Cornell Studies in Political Economy)

Who Elected the Bankers?: Surveillance and Control in the World Economy (Cornell Studies in Political Economy)

Who Elected the Bankers?: Surveillance and Control in the World Economy (Cornell Studies in Political Economy)

Opening Financial Markets: Banking Politics on the Pacific Rim (Cornell Studies in Political Economy)

Democracy Beyond the State: The European Dilemma and the Emerging Global Order

Democracy beyond the State?

Democracy beyond the State?: The European Dilemma and the Emerging Global Order (Governance in Europe Series)

The League of Nations and the Foreshadowing of the International Monetary Fund (Essays in International Economics)

Regulatory politics in Japan: The case of foreign banking (Cornell University East Asia papers)