The Development of Western Corporations and Globalization

The development of Western capitalism may be regarded as the transition from competitive capitalism to monopoly capitalism. The most recent demonstration for such development is globalization. This paper reveals that the essence of such transition is indicated by the evolution of corporations. When the corporations reach the stage of transnational entities, their sole goal becomes seeking profit for its shareholders. At the same time, the state becomes corporations' partner or political machine rather than their regulator. Hence, we have reasons to assume that transnational corporations will eventually rule the world just as they dominate the market if no concrete measures are taken.