This pioneering study of United States direct investment in Japan will interest academic specialists, business managers, and government policymakers in America, Japan, and elsewhere. Drawing on rich historical materials from both sides of the Pacific, including corporate records and government documents never before made public, Mason examines the development of both Japanese policy towards foreign investment and the strategic responses of American corporations. This history is related in part through original case studies of Coca-Cola, Dow Chemical, Ford, General Motors, International Business Machines, Motorola, Otis Elevator, Texas Instruments, Western Electric, and Victor Talking Machine.

The book seeks to explain why s little foreign direct investment has entered modern Japan. In contrast to the widely held view that emphasizes an alleged lack of effort on the part of foreign corporations, this study finds that Japanese restrictions merit greater attention. Many analysts of the modern Japanese political economy identify the Japanese government as the key actor in initiating such restrictions. Mason finds that the influence of Japanese business has often proved more potent than these analysts suggest. This book offers fresh insights into both the operation of the modern Japanese political economy and of its relations with the world economy.

Native to a high valley in the Andes of Ecuador, the Otavalos are an indigenous people whose handcrafted textiles and traditional music are now sold in countries around the globe. Known as weavers and merchants since pre-Inca times, Otavalos today live and work in over thirty countries on six continents, while hosting more than 145,000 tourists annually at their Saturday market.

In this ethnography of the globalization process, Lynn A. Meisch looks at how participation in the global economy has affected Otavalo identity and culture since the 1970s. Drawing on nearly thirty years of fieldwork, she covers many areas of Otavalo life, including the development of weaving and music as business enterprises, the increase in tourism to Otavalo, the diaspora of Otavalo merchants and musicians around the world, changing social relations at home, the growth of indigenous political power, and current debates within the Otavalo community over preserving cultural identity in the face of globalization and transnational migration. Refuting the belief that contact with the wider world inevitably destroys indigenous societies, Meisch demonstrates that Otavalos are preserving many features of their culture while adopting and adapting modern technologies and practices they find useful.

Popular anger against the financial system has never been higher, yet the practical workings of the system remain opaque to many people. The Heretic's Guide to Global Finance aims to bridge the gap between protest slogans and practical proposals for reform.

Brett Scott is a campaigner and former derivatives broker who has a unique understanding of life inside and outside the financial sector. He builds up a framework for approaching it based on the three principles of 'Exploring', 'Jamming' and 'Building', offering a practical guide for those who wish to deepen their understanding of, and access to, the inner workings of financial institutions.

Scott covers aspects frequently overlooked, such as the cultural dimensions of the financial system, and considers major issues such as agricultural speculation, carbon markets and tar-sands financing. Crucially, it also showcases the growing alternative finance movement, showing how everyday people can get involved in building a new, democratic, financial system.

The world's multinational enterprises face a spell of rough weather, political economist Ray Vernon argues, not only from the host countries in which they have established their subsidiaries, but also from their home countries. Such enterprises--a few thousand in number, including Microsoft, Toyota, IBM, Siemens, Samsung, and others--now generate about half of the world's industrial output and half of the world's foreign trade; so any change in the relatively benign climate in which they have operated over the past decade will create serious tensions in international economic relations.

The warnings of such a change are already here. In the United States, interests such as labor are increasingly hostile to what they see as the costs and uncertainties of an open economy. In Europe, those who want to preserve the social safety net and those who feel that the net must be dismantled are increasingly at odds. In Japan, the talk of "hollowing out" takes on a new urgency as the country's "lifetime employment" practices are threatened and as public and private institutions are subjected to unaccustomed stress. The tendency of multinationals in different countries to find common cause in open markets, strong patents and trademarks, and international technical standards has been viewed as a loss of national sovereignty and a weakening of the nation-state system, producing hostile reactions in home countries.

The challenge for policy makers, Vernon argues, is to bridge the quite different regimes of the multinational enterprise and the nation-state. Both have a major role to play, and yet must make basic changes in their practices and policies to accommodate each other.

Prior to the millennium, economists and policy makers argued that free trade between the United States and Mexico would benefit both Americans and Mexicans. They believed that NAFTA would be a “win-win” proposition that would offer U.S. companies new markets for their products and Mexicans the hope of living in a more developed country with the modern conveniences of wealthier nations. Blending rigorous economic and statistical analysis with concern for the people affected, Mexican Women in American Factories offers the first assessment of whether NAFTA has fulfilled these expectations by examining its socioeconomic impact on workers in a Mexican border town.

Carolyn Tuttle led a group that interviewed 620 women maquila workers in Nogales, Sonora, Mexico. The responses from this representative sample refute many of the hopeful predictions made by scholars before NAFTA and reveal instead that little has improved for maquila workers. The women’s stories make it plain that free trade has created more low-paying jobs in sweatshops where workers are exploited. Families of maquila workers live in one- or two-room houses with no running water, no drainage, and no heat. The multinational companies who operate the maquilas consistently break Mexican labor laws by requiring women to work more than nine hours a day, six days a week, without medical benefits, while the minimum wage they pay workers is insufficient to feed their families. These findings will make a crucial contribution to debates over free trade, CAFTA-DR, and the impact of globalization.

A sweeping account of three Gujarati Muslim trading communities, whose commercial success over nearly two centuries sheds new light on the history of capitalism, Islam, and empire in South Asia.

During the nineteenth century, three Gujarati Muslim commercial castes—the Bohras, Khojas, and Memons—came to dominate Muslim business in South Asia. Although these communities constitute less than 1 percent of South Asia’s Muslim population, they are still disproportionately represented among the region’s leading Muslim-owned firms today. In No Birds of Passage, Michael O’Sullivan argues that the conditions enabling their success have never been understood, thanks to stereotypes—embraced equally by colonial administrators and Muslim commentators—that estrange them from their religious identity. Yet while long viewed as Hindus in all but name, or as “Westernized” Muslims who embraced colonial institutions, these groups in fact entwined economic prerogatives and religious belief in a distinctive form of Muslim capitalism.

Following entrepreneurial firms from Gujarat to the Hijaz, Hong Kong, Mombasa, Rangoon, and beyond, O’Sullivan reveals the importance of kinship networks, private property, and religious obligation to their business endeavors. This paradigm of Muslim capitalism found its highest expression in the jamaats, the central caste institutions of each community, which combined South Asian, Islamicate, and European traditions of corporate life. The jamaats also played an essential role in negotiating the position of all three groups in relation to British authorities and Indian Muslim nationalists, as well as the often-sharp divisions within the castes themselves.

O’Sullivan’s account sheds light on Gujarati Muslim economic life from the dawn of colonial hegemony in India to the crisis of the postcolonial state, and provides fascinating insights into the broader effects of capitalist enterprise on Muslim experience in modern South Asia.

The Organization of Firms in a Global Economy presents a new research program that is transforming the study of international trade. Driven by the availability of new micro data sets and innovative theoretical models, it focuses on the level of firms, products, and stages of production rather than on countries and industries. It addresses such questions as why only a small proportion of firms in a given industry export and why an even smaller proportion invest abroad; why exporters tend to be more productive than nonexporters; why almost one-third of international trade takes place between units of the same firm and why as much as two-thirds involves multinational firms as exporter, importer, or both; and why international trade may have been the most important driver of organizational changes in the corporation that have been taking place in the last decade.

Until a few years ago, models of international trade did not recognize the heterogeneity of firms and exporters, and could not provide good explanations of international production networks. Now such models exist and are explored in this volume.

An eye-opening portrait of global capitalism spanning 150 years, told through the history of the Tata corporation.

Nearly a century old, the grand façade of Bombay House is hard to miss in the historic business district of Mumbai. This is the iconic global headquarters of the Tata Group, a multinational corporation that produces everything from salt to software. After getting their start in the cotton and opium trades, the Tatas, a Parsi family from Navsari, Gujarat, ascended to commanding heights in the Indian economy by the time of independence in 1947. Over the course of its 150-year history Tata spun textiles, forged steel, generated hydroelectric power, and took to the skies. It also faced challenges from restive workers fighting for their rights and political leaders who sought to curb its power.

In this sweeping history, Mircea Raianu tracks the fortunes of a family-run business that was born during the high noon of the British Empire and went on to capture the world’s attention with the headline-making acquisition of luxury car manufacturer Jaguar Land Rover. The growth of Tata was a complex process shaped by world historical forces: the eclipse of imperial free trade, the intertwined rise of nationalism and the developmental state, and finally the return of globalization and market liberalization. Today Tata is the leading light of one of the world’s major economies, selling steel, chemicals, food, financial services, and nearly everything else, while operating philanthropic institutions that channel expert knowledge in fields such as engineering and medicine.

Based on painstaking research in the company’s archive, Tata elucidates how a titan of industry was created and what lessons its story may hold for the future of global capitalism.

Born of thirteen years of field research, this interdisciplinary work explores the complex intersections of technology, class, gender, and ecology in the transnational milieu of Mexico's maquiladoras, foreign-owned assembly plants located along the U.S. border.

Devon Peña examines workplace and community struggles from the perspective of the women who work in the maquiladoras. He describes the workers' struggles for workplace democracy, social justice, and sustainable development. He also observes the circulation of struggle from the factory to the community, highlighting the efforts to establish worker-owned cooperatives in the border region during the 1970s and 1980s.

Female maquila workers are typically portrayed as passive, apolitical, and easily exploited. This book, however, presents an opposing view, investigating the "subaltern life of the shop floor"—the workers' informal methods of resistance to hazardous conditions, sexual harassment, and managerial tyranny. Using survey research, oral history, discourse analysis, and site ethnography, the author develops a cogent critique of labor-process theory, a critique grounded on his extensive study of actual workplace politics in the maquiladoras.

The Terror of the Machine is a trenchant analysis of the political, cultural, and environmental effects of maquila industrialization and an eloquent and persuasive call for alternatives in the direction of ecologically sustainable and culturally appropriate modes of development.