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Multinational Corporations and Global JusticeHuman Rights Obligations of a Quasi-Governmental Institution$
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Florian Wettstein

Print publication date: 2009

Print ISBN-13: 9780804762403

Published to Stanford Scholarship Online: June 2013

DOI: 10.11126/stanford/9780804762403.001.0001

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Political Power and Authority of Multinational Corporations

Political Power and Authority of Multinational Corporations

Chapter:
(p.180) Chapter 6 Political Power and Authority of Multinational Corporations
Source:
Multinational Corporations and Global Justice
Publisher:
Stanford University Press
DOI:10.11126/stanford/9780804762403.003.0006

Multinational corporations (MNCs) have become quasi-governmental institutions with vast amounts of power and influence over social and societal life in general. This chapter explores the quasi-governmental role of MNCs, first by analyzing corporate power and its public nature. It then looks at the sources of corporate power in the global political economy and argues that corporate (political) power today is essentially structural in nature. The chapter shows that the structural changes in the global market have enabled MNCs to assume commanding positions in the global political economy, and that these transformations were driven by MNCs themselves. It presents an example of corporate control over the global food system and concludes by delving into the concept of authority.

Keywords:   quasi-governmental institutions, corporate power, political economy, structural changes, global market, authority

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