,REVIEW3 ,! ,*ALL5GE TO ,U4,S4 ,DOM9ANCE ( ! ,9T]NATIONAL ,CORPORATIONS BY ,RA9] ,HELLMANN 

,PEOPLE 3 

,AU?OR 3 ,PAUL ,MATTICK 

,TEXT 3 

,PUBLI%$3 ,SCI5CE @& ,SOCIETY1 VOL4 #c#f1 NO4 #a4 #a#i#g#b4 ,PP4 #a#b#a-#a#b#c4 
,TRANSCRIPTION_/,M>KUP3 ,MICAH ,MU]1 #b#a#h4 

,! ,*ALL5GE TO ,U4,S4 ,DOM9ANCE ( ! ,9T]NATIONAL 
,CORPORATIONS1 BY ,RA9] ,HELLMANN4 ,NEW ,YORK3 ,! ,DUNELL5 
,COMPANY1 ,9C41 #a#i#g#a4 @s#a#g4#e4 ,PP4 #c#d#h4 

,BETWE5 #aie & #a#i#g1 !RE WAS R\<LY A T5FOLD 9CREASE 9 
,AM]ICAN DIRECT 9VE/M5TS 9 ,EUROPE4 ,! FE> >OSE1 & F\ND 
EXPRESSION 9 V>I\S PUBLICATIONS1 ?AT ?IS TR5D1 IF NOT REV]S$1 
W\LD SOON] OR LAT] SUBJECT ,EUROPE TO ! RULE ( ,AM]ICAN CAPITAL4 
,HELLMANN'S BOOK DEALS ) ?IS ,AM]ICAN DOM9ANCE BY WAY ( 
9T]NATIONAL CORPORATIONS OP]AT+ 9 ,EUROPE & ! WORLD AT L>GE1 
& ) ! C\NT]-MOVES ON ! P>T ( ,EUROPEAN CAPITAL TO >RE/ 
?IS ONE-DIRECTIONAL CAPITAL MOVEM5T 9 FAVOR ( A GREAT] DISP]SAL ( 
ECONOMIC P[] 9 ! WORLD ECONOMY4 

,HELLMANN F9DS ! 9T]NATIONALIZATION ( PRODUCTION1 AS PRACTIC$ 
BY MULT9ATIONAL CORPORATIONS1 \TWEI<+ BY F> ! IMPORTANCE ( 
=EIGN TRADE4 ,9 FACT1 ! VALUE ( ,U4,S4 OV]SEAS PRODUCTION IS MORE 
?AN TWICE ?AT ( ,AM]ICAN EXPORTS4 ,HELLMANN IS MO/ COMPET5T 9 
RELAT+ DESCRIPTIVELY & /ATI/ICALLY BO? ?IS EXPANSION ( ,AM]ICAN 
9VE/M5TS & ! REACTIONS ( ,EUROPEAN AU?ORITIES & ,EUROPEAN 
CAPITAL4 ,HE ?9KS ?AT ,AM]ICAN CORPORATIONS RECOGNIZ$ ! 
OPPORTUNITIES PROVID$ BY ! ,EUROPEAN ,COMMON ,M>KET E>LI] ?AN !IR 
,EUROPEAN COMPETITORS1 !REBY GA9+ AN ADVANTAGE4 ,?IS HAS TO BE 
OV]COME1 NOT SIMPLY BY OPPOS+ ! MULT9ATIONAL CORPORATION1 BUT BY 
P>TAK+ 9 !IR =MATION & EXPANSION & BY 9T]NATIONAL 
>RANGEM5TS ON ! GOV]NM5TAL LEVEL4 ,HE SEES ! FUR!R 9TEGRATION 
( ,EUROPEAN CAPITAL AS A NECESS>Y PRECONDITION = ?IS 
DEVELOPM5T4 

,MORE WAS 9VOLV$ H]E1 H[EV]1 ?AN JU/ ! RECOGNITION ( AN 
OPPORTUNITY1 AS MAY BE SE5 BY ! AMBIGU\S ATTITUDES DISPLAY$ BY 
,EUROPEAN CAPITAL T[>D ,AM]ICAN P5ETRATION ( ITS HOME T]RITORY4 ,IT 
FE>$ ! DECL9E ( ,AM]ICAN 9VE/M5TS AS WELL AS !IR GR[?1 
BECAUSE ITS [N PROSP]\S CONDITIONS W]E 9EXTRICABLY B\ND UP ) 
! EXPANSION ( ,AM]ICAN CAPITAL 9 ,EUROPE4 ,9 ! LONG RUN1 ( C\RSE1 
?IS EXPANSION MU/ BE (FSET1 EI!R ?R\< OB/ACLES PLAC$ 9 ! 
WAY ( ,AM]ICAN CORPORATIONS1 OR ?R\< CORRESPOND+LY L>G] ,EUROPEAN 
CAPITAL EXPORTS TO ! ,AM]ICAN M>KETS4 ,IT WAS ! RELATIVELY L[] 
PR(ITABILITY ( CAPITAL 9 ! ,UNIT$ ,/ATES :I* 9DUC$ CAPITAL 
EXPORTS 9 ! FIR/ PLACE1 & :I* RE/RICT$ L>G] ,EUROPEAN CAPITAL 
EXPORTS TO ! ,UNIT$ ,/ATES4 ,) ! SL[+-D[N ( ! EXPANSION ( 
,EUROPEAN ECONOMIES & ! RESULT+ EQUALIZATION ( PR(IT RATES1 
CAPITAL MOVEM5TS MAY AGA9 TAKE ON A MORE TRADITIONAL *>ACT] BY 
LOS+ !IR ONE-SID$ DIRECTION4 ,9 FACT1 ACCORD+ TO ,HELLMANN1 
0,EUROPEANS HOLD N[ ALMO/ EXACTLY ! SAME AM\NT ( PRIVATE 
9VE/M5TS 9 ! ,UNIT$ ,/ATES AS ,AM]ICANS ON ! OLD CONT95T40 ,BUT 
!RE IS A DIFF]5CE 9 ?AT 09 ! CASE ( ,EUROPE1 ! 9VE/ORS >E 
CORPORATIONS1 :]EBY 9 ! CASE ( ! ,UNIT$ ,/ATES1 AB\T TWO-?IRDS 
( ! 9VE/ORS >E ,EUROPEAN SAV]S10 ?AT IS1 NOT ! DIRECT [N]S ( 
PRODUCTIVE 5T]PRISES4 ,S9CE #a#i#f#g1 H[EV]1 0,EUROPEAN COMPANIES HAVE 
= ! FIR/ TIME 9CREAS$ !IR DIRECT 9VE/M5TS 9 ,AM]ICA MORE 
RAPIDLY ?AN ,AM]ICAN FIRMS 9CREAS$ !IRS 9 ,EUROPE40 

,YET ! \TLOOK = A MORE EQUAL DI/RIBUTION ( =EIGN DIRECT 
9VE/M5TS REMA9S HI<LY DUBI\S BECAUSE ( ! ,AM]ICAN HEAD/>T 9 
! FIELD & BECAUSE ( ! L>G] SIZE & GREAT] F9ANCIAL RES\RCES 
( ! ,AM]ICAN P>5T ORGANIZATIONS4 ,AS ,GIOVANNI ,AGNELLI1 *AIRMAN ( 
,FIAT1 SAID REC5TLY3 0,EUROPEAN 9DU/RY IS TOO SMALL 9 COMP>ISON ) 
,AM]ICAN 9DU/RY TO POSE A REAL *ALL5GE4 ,FIAT1 A GIANT 9 ,EUROPE1 HAS 
YE>LY SALES ( ! ORD] ( ,G5]AL ,MOTORS PR(ITS40 ,DESPITE SU* 
,EUROPEAN MULT9ATIONAL CORPORATIONS AS ,UNILEV]1 ,%ELL & ,PHILIPS1 
0,AM]ICA'S POSITION 9 ,EUROPE IS AB\T TWO & A HALF TIMES /RONG] 
?AN ?AT ( ,EUROPE 9 ! ,UNIT$ ,/ATES10 AS ,HELLMANN SUMS UP ! 
SITUATION4 ,COP+ ) ?IS COMPETITIVE P[] W\LD NECESSITATE A RATE 
( EXPANSION ( ,EUROPEAN CAPITAL :I* C\LD NOT BE BR\<T AB\T M]ELY 
BY A BETT] 9TEGRATION ( ,EUROPEAN CAPITAL ?R\< M]G]S1 
CONC5TRATION & ! REMOVAL ( ! REMA9+ OB/ACLES TO A TRULY 
COMMON M>KET EQUIVAL5T TO ! ,AM]ICAN M>KET4 ,! ATTEMPTS WILL BE 
MADE1 NONE!LESS1 9DICAT+ AN 9T5SIFI$ COMPETITION1 :I* WILL 
BR+ ALL ! CAPITALI/ CONTRADICTIONS 9TO /ILL %>P] RELIEF4 

,TAK+ ! CAPITALI/ SY/EM = GRANT$1 ,HELLMANN1 9 ANALYZ+ ! 
MULT9ATIONAL CORPORATIONS1 DOES NOT CONC]N HIMSELF ) ! REAL 
UND]LY+ PROBLEMS ( CAPITAL PRODUCTION1 BUT ONLY ) !IR M>KET 
APPE>ANCES4 ,)9 ?IS FRAME ( REF]5CE1 H[EV]1 HIS SUGGE/IONS 
APPE> REASONABLE1 = !Y >E DESIGN$ TO BR+ GREAT] ORD] TO ! 
DISORD]LY CONDUCT ( ! 9T]NATIONAL ECONOMY1 & TO BRIDGE ! GAP 
BETWE5 NATIONAL 9T]E/S & ?OSE SPECIFIC TO ! MULT9ATIONAL 
CORPORATIONS4 ,HE SEES ! DIFFICULTIES 9 ! WAY ( SU* 5DEAVOR1 BUT 
NOT !IR IRRECONCILABILITY1 EV5 ?\< HE FEELS ?AT TRULY 
SUPRANATIONAL CORPORATIONS1 SU* AS ?OSE :I* CAN NO LONG] BE 
ATTRIBUT$ TO ! NATIONAL /ATE1 >E ONLY WI%FUL ?9K+ :I* 
RELATES TO A F>AWAY & P]HAPS IMPOSSIBLE FUTURE4 ,PRES5TLY1 ! 
[N]%IP & DECISION-MAK+ P[]S ( ! MULT9ATIONAL CORPORATIONS 
>E 9 NATIONAL H&S1 &1 9 ! CASE ( ! ,UNIT$ ,/ATES1 PO9T TO A 
CONV]G5CE BETWE5 PRIVATE & PUBLIC 9T]E/S 9 ORD] TO SECURE ! 
DOM9ANCE ( ,AM]ICAN CAPITAL4 ,BUT :ATEV] ! SELF-IMPOS$ LIMITATIONS 
( ,HELLMANN'S ANALYSIS1 ! FACTS HE (F]S >E WOR? POND]+1 & 
!Y DO PROVIDE1 (T5 = ! FIR/ TIME1 RELIABLE E/IMATES ( 
,AM]ICAN 9VE/M5TS 9 ,EUROPEAN NATIONS & A COMP>ISON ) =EIGN 
9VE/M5TS 9 ! ,UNIT$ ,/ATES4 

,FROM 3 ,M>XI/S4ORG4 

,*RONOLOGY 3 
,M>* #c1 #bba 3 ,REVIEW3 ,! ,*ALL5GE TO ,U4,S4 ,DOM9ANCE ( ! ,9T]NATIONAL ,CORPORATIONS BY ,RA9] ,HELLMANN -- ,ADD$4 
,JANU>Y #h1 #bbb 3 ,REVIEW3 ,! ,*ALL5GE TO ,U4,S4 ,DOM9ANCE ( ! ,9T]NATIONAL ,CORPORATIONS BY ,RA9] ,HELLMANN -- ,UPDAT$4 

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