Timeline Capsule
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Multinational Corporations
Multinational Corporations or Groups
Multinational means that a corporation or group that own or controls the production of goods or services in two or more countries, other than your own country.

Criticism of Multinationals
Multinational corporations are often criticized for entering countries that have low human rights or environmental standards.

In addition, they typically use their capital to play workers, communities, and nations against one another. 

Some negative outcomes generated by multinational corporations include increased inequality, unemployment, and wage stagnation.

The aggressive use of tax avoidance schemes allows multinational corporations to gain competitive advantages over small and medium-sized enterprises, and cause less money to be spent on public services.

The 5 Major Cons of Multinational Corporations

  1. Market Dominance - The market dominance of multinational corporations makes it hard for the local small firms to succeed and thrive.
  2. Price Gouging - The multinational companies commonly have the power of monopoly that gives them the chance of making excess profit.
  3. Pushing Local Firms Out Of Business - In the developing economies, these giant multinationals push the local firms out of their businesses.
  4. Use of "Slave Labor" - Multinational corporations use so-called slave labor wherein the workers are paid with very small wages.
  5. Environment Threat - For the sake of profit, these global companies commonly contribute to pollution as well as make use of the non-renewable resources that can be a threat to the environment.