Multinational Corporations

This chapter explores the historical and contemporary evolution of multinational corporationsMultinational Corporation (MNCs) and their influence on global economic and political structures. Tracing their origins back to powerful chartered companies like the British and Dutch East India Companies, the chapter discusses how early corporations established monopolistic trade practices, colonisation, and resource exploitationexploitation, setting the stage for modern corporate dominance. Over centuries, MNCs have grown to wield immense influence, shaping economic policiespolicies, labour practices, and even regulatory frameworksregulatoryframeworks across nation-statesnation-state. Their instrumental, structural, and discursive power is examined, revealing how these entities navigate political systems to promote corporate-friendly policies, often at the expense of societal interestsinterests. The chapter points to the challenges of effectively regulating MNCs in a globalised economyeconomy and discusses how their adaptability and resource mobilisation underscore their continued centrality in international political economy. The chapter examines the nature of corporate powercorporatepower, concluding that legitimacylegitimacy and public supportpublicsupport are both a source of strength and a potential vulnerabilityvulnerability of corporations.