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Big Business, Poor Peoples: How Transnational Corporations by John Madeley

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By John Madeley

This new and up-to-date version of massive company, bad Peoples exposes what percentage of the common assets of constructing nations are being ceded to transnational businesses answerable to not anyone yet their shareholders. the writer argues that transnational organisations have used their cash, measurement and gear to steer foreign negotiations and they have taken complete benefit of the circulation in the direction of privatization to steer the regulations of governments. Sovereignty, he concludes, is passing into company fingers and the negative are paying the fee. yet individuals are combating again. voters, staff, groups, are exposing the firms and seeking out possible choices.

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Additional info for Big Business, Poor Peoples: How Transnational Corporations Damage the Global Poor

Example text

The solution lies not with GM The Agri-Corporations • 35 crops, but with a different approach that enables farmers to have manageable solutions to their agronomic problems. Terminator An additional genetic modification issue opened up when a US firm, Delta & Pine Land, the world’s largest cotton seed company, and the US Department of Agriculture (USDA) received a patent on a technique that means seeds can only be planted once. The technology genetically disables a seed’s capacity to germinate if it is planted again – it terminates a plant’s reproductive processes so that harvested seed will be sterile if farmers attempt to replant.

TNCs offer help to countries that have economic wounds such as severe unemployment, chronic shortage of foreign exchange and sizeable foreign debts. The corporations appear to be the engineers of wealth, with the money and skills to earn additional foreign exchange and create jobs. They seem to be an almost magical answer. The deeper problems they can bring may not be considered alongside more pressing economic needs. 1 It is made difficult for them not to ‘want’ to attract TNCs. Control of TNCs in developing countries is deliberately made lax, or even nonexistent.

The Western government/corporate ‘spin’ has been skilful. The prescription of globalization, liberalization and privatization is ‘presented with an air of inevitable and overwhelming conviction. ’3 When such ‘widespread certainty’ abounds, and when such ‘spin’ sounds so convincing, developing countries want to be part of it. Globalization Economic globalization – the world as a single market, without barriers, as opposed to a world divided up into separate markets – has become one of the controversial issues of our time.

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