Small economies' adjustment to global challenges Book

This volume discuses the effects of globalization on changing power relationships between transnational corporations (TNCs), transnational capital, the state, and subnational groups. TNCs have expanded their power with the deepening of market relations, but they are "not" causing the state to wither away. Indeed, neoliberal changes often occur with the permission or even encouragement of powerful states. Transnational capital has weakened labor groups in order to make production more competitive, but the disadvantaged groups may mobilize to counter the power of transnational capital. Finally, globalization is subjecting domestic policies to increased international scrutiny.