What have multinationals done for development?

A question from Yahoo! Answers:

What have multinational corporations done for development?

They ARE development…

Joseph Schumpeter in his Theory of Economic Development defined development as any of the five cases, (1) creation of a new good or service, (2) introducing a new method of production (with “production” defined broadly and explicitly including new ways to conduct commerce), (3) developing a new market, (4) developing a new source of factors of production, and (5) substantial changes to industry organization, such as achieving a monopoly or breaking up an existing monopoly.

Multinationals do the majority of (3) and (4) in the world…

This entry was posted in Answers, Economics. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *