Globalization and Global Problems (Chapter 13) in “Social Problems in Canada”

Transnational Corporations: Engines of Injustice Or Catalyst for Growth?

• What is a transnational corporation? A corporation that is generally based in an affluent country and has branches, networks, productions or affiliations placed internationally. A corporation whose profit making and production tentacles has no limits, reaching anywhere in the world. 60,000 Transnational corporations drives Globalization with more than half a million overseas affiliates, accounting for about one-quarter of total global output
• By the late 1990’s 51 of the top 100 economies in the world were transnational corporations.

51 Out of Top 100 Economies, Are TNCs

• 23) General Motors 176,558.00 ($ million)
• 24) Denmark174,363.0025 WalMart 166,809.0026 ($ million)
• 25) Exxon Mobil 163,881.0027 ($ million)
• 26) Ford Motor 162,558.0028 ($ million)
• 27) Daimler Chrysler159,985.70 ($ million)
• http://www.corporations.org/system/top100.html

TNCs (cont’d)

• How much money do they make? Just the combined revenue of the 200 largest corporations is 7.1 trillion which is greater than that of the 182 nation-states that have responsibility for the livelihood of 80 % of humanity.
• What is so bad about transnational corporations? enrich themselves at the expense of the poor; destroy local industries; control and perpetuate the exploitation of people; consumers perpetuating and expanding unjust globalized practices
• Good Side of TNC: Extremely efficient profit generating “machines;” revitalize economies; can propel development; spill-over effect; technological transfers
• How have transnational corporations come to power? countries are absorbed into a capitalist world system; consumers perpetuating and expanding unjust globalized practices etc.
• <<<<<<<<<<<“The Corporation” Clip>>>>>>>>>>>>>

Questions:

• How much blame can we place on ourselves for the expansion of transnational corporations in its unjust globalized practices? (Keeping in mind that we are the consumers of these tainted goods and services who these corporations profit from)