Write an essay
Smith et al (2017:23) identify and explain the following five trends in the rise of MNCs or as they call it corparate globalisation.
•The private marketplace is becoming dominated by large MNCs.
• Wealth is accumulating within a small number of economic actors, both public and private.
• The divide between rich and poor ( referring to individuals, states and companies) is getting bigger both within and between states.
One of the major operative survival tactics of MNCs is great expenditure on advertising and marketing. The process has enabled them to sell every brand or product they create.
The amalgamation of neoliberal belief, corporate politicization, business-friendly economic policies, tax evasions, and avoidance have contributed to the accumulation of wealth by a small number of individuals in the private and public sectors.
The major effect of subordinate tax rates enabled the wealthiest to keep getting additional of their income, which inclines to widen the gap between poor and rich. The other driver behindhand increasing income gaps has been superior inequality in salaries and wages. Thus, highly skilled people tend to benefit more from science and technological progress than low trained personnel.