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Full Access The World Economic Crisis and Transnational Corporations1

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The World Economic Crisis and Transnational Corporations1

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image of Perspectives on Global Development and Technology
For more content, please see Journal of Developing Societies.

AbstractAlthough the world economic crisis has slowed the flow of global investments and production, transnational capitalism has become more centralized through greater monopolization. We can trace this development in the auto industry with an examination of state intervention, transnational alliances and global competition. Far from developing a nation-centric recovery plan, the Obama bail-out deepens the auto industry’s global character. This example shows how the transnational capitalist class works through the State to strengthen its dominant position over national capital.

Affiliations: 1: DeVry University Chicago, Email:


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1. Andrews Edmund "“Treasury Is Said to Plan Second Bailout for GMAC.”" New York Times 2009 May 21
2. Bunkley Nick "“US Likely to Sell G.M. Stake before Chrysler.”" New York Times 2009 August 6
3. Chrysler "“Chrysler Operations and Facilities.”" Chrysler TIMES 2007 August 10
4. Dougherty Carter "“Fiat chief in Berlin to Push for Acquisition of G.M.’s Opel.”" New York Times 2009 May 5
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7. General Motors "“About GM Europe.”" 2009c Retrieved from
8. Greenhouse Steven "“G.M.’s New Owners, US and Labor, Adjust to Roles.”" New York Times 2009 June 2
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10. Harris Jerry , Davidson Carl "“Obama: The New Contours of Power.”" Race & Class 2009 Vol 50 4 1 19
11. Honda "“Honda in America—Economic Impact Study.”" 2009 Retrieved from
12. Luo Michael "“One Town’s Rare Ray of Hope: New Auto Plant.”" New York Times 2009 April 22
13. Maynard Micheline "“After Many Stumbles, Fall of an American Giant.”" New York Times 2009 June 1
14. Maynard Micheline , de la Merced Michael J. "“A Cliffhanger to see if a G.M. Turnaround Succeeds.”" New York Times 2009 July 26
15. Moore Michael "“Goodbye, GM.”" Huffington Post 2009 June 1
16. Schwartz Nelson "“Chrysler Gets an Italian Accent.”" New York Times 2009 May 1
17. Slaughter Matthew "“What Is an ‘American’ Car?”" Wall Street Journal 2009 May 7
18. Spitzer Eliot "“Green Shoots, Red Ink, Black Hole; truly terrifying data about the real state of the US economy.”" 2009 June 3 Retrieved from
19. Timmons Heather "“In Overhaul, G.M. May Look to Its Far-Flung Arms.”" New York Times 2009 June 4
20. Toyota "“Toyota in America.”" 2009 Retrieved from
21. UNCTD " World Investment Report " 2006 United Nations, New York and Geneva
22. Vlasic Bill "“G.M. Decides to Keep Opel, Its European Unit.”" New York Times 2009 November 4
23. Vlasic Bill , Bunkley Nick "“G.M.’s Latest Plan Envisions a Much Smaller Automaker.”" New York Times 2009 April 27

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