ABSTRACT
American corporations have adapted themselves speedily to the new international environment. In their pursuit of the almighty dollar, they quickly jettisoned whatever sense of obligation they had to the national community. American monetary policy tightly controls the supply of money and credit. American corporations’ quasi-sovereignty serves only corporate interests. America’s comparative advantages are said to lie in skilled and trained labor, publicly financed research and development, a technology lead, abundant capital and managerial knowhow. Given Corporate America’s entanglement in foreign economies, probably no one really knows who represents whom. It is only certain that the national interests of the multinational corporations are obscure to say the least. Multinational corporations have done on a global scale what the rise of the conglomerate as a form of corporate organization has done to the domestic economy.
