Reconsidering the Influence of Businesses in Global Politics: Comparing States and Corporations

Abstract

More than 25 years ago, Susan Strange encouraged international relations scholars to consider the role of multinational corporations in their studies. However, this call was largely overlooked or inadequately addressed in both theoretical and empirical discussions within international relations and international political economy. We echo Strange's plea by outlining a detailed theoretical and empirical framework that incorporates both states and corporations as interconnected actors within the transnational networks of the modern global political economy. This perspective focuses on the realistic portrayal of state and corporate power in the global system, emphasizing the interactions between these entities. The concept is exemplified through the case study of the transnationalization of state ownership.