Abstract
Across this country, foreign companies have been acquiring existing businesses and starting new ones. Between 1980 and 1987, multinational corporations like Mitsubishi, Seagrams, Siemens, and Philips have quadrupled their ownership of American industry. They make everything from cars to clothing and sell everything from insurance to zippers. They refine oil, operate vineyards, lend money, and write advertising copy. Carnation, Mack Trucks, Brooks Brothers, Smith and Wesson, Ms. magazine, and Pillsbury are familiar “American” brand names owned by foreign investors. Foreigners have cut huge real estate deals and now own such major buildings as the ABC Building and ARCO Plaza. Ted Bates (advertising), CS First Boston (finance), Bloomingdales (clothing), and Hardees (food retailing) are examples of foreign-owned firms in the fast-growing service sector. The list is long, the industries diverse. Moreover, with this wave of investment carries new management practices, labor relations, and technology. Not only do foreign firms control more of the American economy, but they have become actively involved in politics, culture, philanthropy, and other aspects of community life.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Arnesen, Peter, Robert Coles, and A. Rama Krishna (1987) “Japanese Auto Parts Companies in the U.S. and Japan: Implications for U.S. Competitors.” Ann Arbor: East Asian Business Program, University of Michigan.
Belsie, Laurent (1987) “Japanese Steel Companies in U.S. to Stay.” Christian Science Monitor (25 March):7.
Benjamin, Daniel (1988) “New Miracle on 34th Street?” Time 131 (14 March):51.
Business Week Staff (1984) “How Overseas Investors Are Helping to Reindustrialize America.” Business Week (4 June):103–04.
Bussey, John (1987) “Honda Outlines Big Expansion of Its U.S. Unit.” Wall Street Journal (18 September):52.
Caves, Richard (1982) Multinational Enterprise and Economic Analysis. Cambridge, England: Cambridge University Press.
Chaudhuri, Adhip (1983) “American Multinationals and American Employment.” In The Multinational Corporation in the 1980s, edited by Charles P. Kindleberger and David B. Audretsch, 263–77. Cambridge, MA: MIT Press.
Coleman, Edwin J. (1986) “Regional Aspects of Foreign Direct Investment.” Paper presented at the Southern Regional Science Association meetings. Washington, DC: Bureau of Economic Analysis, U.S. Department of Commerce.
Collier, June M. (1988) “Foreign Money Is Bad for USA.” USA Today (17 August):10A.
Cook, Dan with Edith Terry and Amy Dunkin (1987) “Is Campeau in over His Head at Allied Stores?” Business Week (9 February):52–53
Drucker, Peter F. (1987) “From World Trade to World Investment.” Wall Street Journal (26 May):32.
Dunning, John H. (1981) International Production and the Multinational Enterprise. New York: Praeger.
Dunning, John H. and Alan M. Rugman (1985) “The Influence of Hymer’s Dissertation on the Theory of Foreign Direct Investment.” American Economic Review 75(2):228–32.
Forbes, Malcolm S. (1988) “Before Japan Buys Too Much of the U.S.A.” Forbes 141 (25 January):17.
Glickman, Norman J. and Douglas P. Woodward (1989) The New Competitors: How Foreign Investors Are Changing the U.S. Economy. New York: Basic Books.
Gumbel, Peter and Douglas R. Sease (1987) “Many Foreigners Find Building Plants Is Easier Than Making Money in U.S.” Wall Street Journal (24 July):6.
Hagedorn, Ann (1987) “Campeau Won’t Sell Allied’s Ann Taylor and Brooks Brothers Chains, Sources Say.” Wall Street Journal (23 February):4.
Hansard, Donna Steph (1988) “Just What Hath Campeau Wrought?” Dallas Morning News (19 June):H1+.
Helm, Leslie with Alice Z. Cuneo and Dean Foust (1988) “On the Campus: Fat Endowments and Growing Clout.” Business Week (11 July):70+.
Herr, Ellen M. (1988) “U.S. Business Enterprises Acquired or Established by Foreign Direct Investors in 1987.” Survey of Current Business 68(5):50–58.
Hirsch, Seev (1967) Location of Industry and International Competitiveness. New York: Oxford University Press.
Holstein, William J. with Amy Borrus (1988) “Japan’s Clout in the U.S.: It’s Translating Economic Might into Influence.” Business Week (11 July):64–66.
Howenstine, Ned G. (1987) “U.S. Affiliates of Foreign Companies: Operations in 1985.” Survey of Current Business 67(5):36–51.
Howes, Candace (1986) ”U.S. Auto Jobs: The Problem is Bigger than Japanese Imports.” UAW Research Bulletin (June):2–8.
Hymer, Stephen (1972) “The Multinational Corporation and the Law of Uneven Development.” In Economics and World Order from the 1970’s to the 1990’s, edited by Jagdish N. Bhagwati, 113–40. New York: Macmillan.
Hymer, Stephen (1976) The International Operations of National Firms: A Study of Direct Foreign Investment. Cambridge, MA: MIT Press.
Hymowitz, Carol (1988) “Bloomingdale’s May Reduce Staff by 400 as Parent Campeau Continues to Cut Costs.” Wall Street Journal (8 June):5.
Japan Economic Journal Staff (1986) “Japanese Investments in the U.S. Are Riskier Than Many First Suppose.” Japan Economic Journal (5 July):13+.
Keller, John J. with Mark Maremont (1987) “Plessey’s New Face in the U.S.” Business Week (20 April):32.
Kindleberger, Charles P. (1969) American Business Abroad; Six Lectures on Direct Investment. New Haven, CT: Yale University Press.
Koepp, Stephen (1987) “For Sale: America.” Time 130(14 September):52–56+.
Malcolm, Andrew H. (1985) “Foreign Money Changing U.S. Social-Cultural Life.” New York Times (31 December):1.
Mason, Todd and John Hoerr (1988) “Hitachi: Winning Friends and Influencing People in Oklahoma.” Business Week (11 July):7–75.
New York Times Staff (1985) “Foreign Investment in U.S. Up Sharply.” New York Times (16 September):D9.
Power, Christopher and Edith Terry (1986) “Now Campeau Has to Pay for His Pricey Prize.” Business Week (17 November):66–67.
Prestowitz, Clyde V. (1988) Trading Places: How We Allowed Japan to Take the Lead. New York: Basic Books.
Reich, Robert B. (1988) “Corporation and Nation: What’s Good for America’s Largest Firms Is Not Necessarily Good for America.” Atlantic Monthly 261 (May):76–81.
Rohatyn, Felix (1988) Address to the Economic Club of Washington, 26 January. Photocopy.
Rose, Robert L. and Ann Hagedorn (1987) “Carson Agrees to Acquire Unit of Allied Stores.” Wall Street Journal (28 August):4.
Schoenberger, Erica (1986) “Multinational Corporations and the New International Division of Labor: Incorporating Competitive Strategies into a Theory of International Location.” Baltimore: Department of Geography and Environmental Engineering, Johns Hopkins University.
Smick-Medley and Associates (1988) Foreign Investment: A Smich-Medley and Associates Public Opinion Survey of U.S. Attitudes. Washington, DC: Smick-Medley.
Teece, David J. (1985) “Multinational Enterprise, Internal Governance, and Industrial Organization.” American Economic Review 75(2):233–38.
U.S. Bureau of the Census (1983) 1980 Benchmark Survey of Foreign Investment in the United States. Washington, DC: Bureau of Economic Analysis.
U.S. Bureau of the Census (1984) 1980–81 Annual Survey of Manufactures. Washington, DC: Bureau of the Census, U.S. Department of Commerce.
Vernon, Raymond (1966) “International Investment and International Trade in the Product Cycle.” Quarterly Journal of Economics 80:190–207.
Vernon, Raymond (1971) Sovereignty at Bay: The Multinational Spread of U.S. Enterprise. New York: Basic Books.
Vernon, Raymond (1974) “The Location of Economic Activity.” In Economic Analysis and the Multinational Enterprise, edited by John H. Dunning, 89–114. London: George Allen & Unwin.
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1990 Kluwer Academic Publishers
About this chapter
Cite this chapter
Glickman, N.J., Woodward, D.P. (1990). Foreign Investment and American Jobs. In: Kasarda, J.D. (eds) Jobs, Earnings, and Employment Growth Policies in the United States. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-2201-3_5
Download citation
DOI: https://doi.org/10.1007/978-94-009-2201-3_5
Publisher Name: Springer, Dordrecht
Print ISBN: 978-94-010-7487-2
Online ISBN: 978-94-009-2201-3
eBook Packages: Springer Book Archive