By All Means, Prosper Giant Economies
Posted: 12 Feb 2015
Date Written: 2014
Multinationals have grown dramatically in the last two decades, reflecting rapid post-war economic growth and technological advancements. Multinational Companies (MNC’s) are making substantial efforts to succeed by launching massive search for raw material and exploring new markets for their products; shifting the relative economic power of major industrial countries. Multinational Companies (MNC’s) assert worldwide influence over other business entities and even on governments of the host countries. This research studies the contribution of multinationals towards national exchequer of the third world countries and deliberates upon the manner in which the MNC’s understandably watch over their vested interests. The concern of the researcher is to ascertain the impact of the TNC’s on the prosperity of the society, and that on the material and spiritual dimensions of the consumer personality. The scholar suggests measures that need to be taken to safeguard interests of both the giants and the pygmies. This research examines the current state of foreign investment in the developing countries of Asia, particularly Pakistan and investigates the extent,content and quality of life of affected by this investment in the host countries. Data are primarily drawn from the World Investment Report (UNCTAD) and the World Economic Forum. The research paper argues that activities of transnational corporations require regulations and laws that avoid environmental disasters and ensure the health and well being of their workers. The scholar urges the giant economies to integrate social and ethical concerns in their business operations on a voluntary basis.
Keywords: Multinationals, Consumerism, Culture, Materialism, Consciousness
JEL Classification: Economics,Management, Humanities, Social Science, Consciousness, Hegel
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