The emergence in recent years of the semi-industrialized countries poses a number of questions for the analysis of the world economy and the internationalization of capital. These include the significance of industrial relocation, the factors underlying industrial growth in the...

The paper argues that much of the literature on the impact of TNCs on the Third World is located at the level of circulation. Making use of the recent critical literature on monopoly and competition, it is argued that surplus profits earned by NCs in Third World countries are not primarily the...