The unprecedented shifts in the US dollar's exchange rate that started during the late 1970s and continued through the 1980s provides an opportunity to explore how the global economy works and the role that multinational enterprises (MNEs) play in the phenomenon of globalization. In this volume, Subramanian Rangan and Robert Z. Lawrence examine the international pricing, sourcing, and trade responses of MNEs to shifts in the dollar. Based upon the micro patterns they observe in MNE behaviour, the authors suggest explanations for some puzzling macro patterns evident in the international...

U.S. international (export and import) prices enter into the calculations of the U.S. GDP deflator and the U.S. inflation index. Over the past couple of decades, as the international sector of the U.S. economy has shot up in relative importance, concern for the correctness of those international prices has grown too (see Alterman, 1997). Correct measurement of international prices is, however, a challenging task made more complicated by multinational firms' intrafirm transfer pricing. Considerable research has been devoted to understanding multinational transfer pricing (see Eden, 2000). By...

The prevailing aspiration of business is performance, while that of society is progress. Capitalism, both the paradigm and practice, sits at the intersection of these dual aspirations, and the essays in this volume explore its fraught status there.

Contributions to this volume address questions such as (i) what's the problem with capitalism?; (ii) is the problem just with the practice or with the very paradigm?; (iii) what is progress and who is responsible for it?; (iv) what evolution is required at the individual, system, and paradigm level so that enterprises and the executives who...