International Politics and International Economics: A Radical Approach


  • Stephen Hymer



Political Economy


The following essay is an abridged version of the first and only draft of a paper on which Stephen Hymer was working in the months before his death in February 1974. He had been on leave for the Fall 1973 semester from the New School for Social Research, where he was teaching in the graduate political-economy program. During his leave, he was taking the first tentative steps on a new and important project. His previous work on multinational corporations had led him to view them as the institutionalized form of a constantly internationalizing capital. Understanding the duality of the capital/labor relationship, his analyses had led him logically and politically to the next important questions: If the internationalization of capital had produced multinational corporations, how would workers respond? What new institutional forms would frame the bargaining and struggle between labor and capital in an increasingly integrated world economy? Stephen had planned to begin a long-term research and writing project on the tensions affecting labor and labor organizations in the advanced capitalist countries. This essay was intended as a sketch of his preliminary thoughts on that question.