Bringing the Firm Back In: Multinationals in International Political Economy

The state is based on the concepts of territoriality, loyalty, and exclusivity, and it possesses a monopoly of the legitimate use of force … [T]he market is based on the concepts of functional integration, contractual relationships, and expanding interdependence of buyers and sellers ... The tension between these two fundamentally different ways of ordering human relationships has profoundly shaped the course of modern history and constitutes the crucial problem in the study of political economy (Gilpin, 1987, pp. 10–11).