chapter  X
11 Pages

Multi-national Companies and the British Economy

Although some of the outcry about the 'multi-national company' should be taken with a pinch of salt, it is perfectly reasonable to be ,worried about some of its aspects. The ways in which the British economy is managed will certainly change as a consequence of its intrusion and growth; policy areas in which our economic managers once thought they had absolute power will be affected by new complex forces. However, the day is not yet in sight when the Treasury knights will find themselves powerless in the face of a handful of foreign company presidents. The rise of the multi-nationals merely imposes new pressures on the economic policy-making function; they will not necessarily dominate it. For a full discussion, the reader can consult books like Charles Kindleberger's symposium The International Corporation (1970), or my own Invisible Empires (1970); a more limited consideration is required for the purposes of this chapter.