A New Approach to International Economics

In: International social science journal: ISSJ, Band 30, Heft 2, S. 253-283

Abstract

A new system of world economy is being created by transnational concerns (TC), who, in turn, become structured by the system they are creating. Three major characteristics of this world economic system in formation are noted: (1) the geographic displacement of industrial activity resulting from the TC & its international redistribution, the apparent consequences of which are a new international DofL, the North-South shift of some industrial branches, & the new characteristics of the flow of goods, in part internal to the TCs; (2) the internalization of dominant economies resulting in a weakening of the possibilities for government control & regulation at the macroeconomic level; & (3) the apparition of transnational structures, such as the Eurodollar market. These characteristics cannot be explained by classical or neoclassical theories of international exchange, nor by Marxist theories of imperialism. The proposed model emphasizes the interdependence of national productive systems covering a movement of unification of the world space & of reproduction of national inequalities. Technological dependency gets its full meaning when related to the system of world economy. World circulation of technology has the following characteristics: (A) the dominant role of the US as supplier of technology, (B) the dominant role of TCs as agents of technological transfer, & (C) a concentration of the technological flux among developed nations. Neither the theory of international exchange nor a critical examination of technological transfers toward developing economies is sufficient to understand the causes, modalities, & consequences of the international circulation of technologies. Given the determinant role of the supplier in technological transfer, such transfers must be analyzed from the viewpoint of the supplier, particularly the TCs. Technological production & exchange should be related to account for international differences in technological production & to tie international exchange of technology & internationalization of capital. Technological dependency in any form reflects the double movement of uniformization & differentiation of technology among nations that are unequal producers of technology. 5 Tables. AA Tr & Modified by A. Orianne.