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Globalization? No Question! Foreign Direct Investment and Labor Commanded

School of Social Sciences, Media and Cultural Studies, University of East London, Dockland Campus, University Way, London E16 2RD, M.DeAngelis{at}uel.ac.uk

David Harvie

School of Management, Ken Edwards Building, University of Leicester, Leicester LE1 7RH

Skeptics of the globalization thesis argue that most Third World countries are "virtually written off the map" (Hirst and Thompson 1999) in terms of foreign direct investment and trade. The authors reexamine the empirical evidence on international investment, drawing on the concept of labor commanded. Recalculating foreign direct investment flows in terms of labor-commanded hours instead of U.S. dollars, the authors find developing countries to be highly integrated into the global economy.

Key Words: labor commanded • foreign direct investment • globalization • capitalism

This version was published on December 1, 2008

Review of Radical Political Economics, Vol. 40, No. 4, 429-444 (2008)
DOI: 10.1177/0486613408324068


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