the internationalization of economic activity and its major vehicle, the TNC, can be regarded simply as being part of the normal expansive process of capitalist development.

Geographically, the global economy is now multi-polar , as new centres of production have emerged in parts of what had been, historically, the periphery of the world economy. The world is now more accurately described as a 'mosaic of unevenness in a continual state of flux'.

It is indeed paradoxical that an industry which epitomizes all that is new and up-to-date at the same time harbours some of the oldest and least desirable attributes of work in manufacturing industry.

Reality is far more complex and messy than many of the grander themes and explanations would have us believe.

In fact, technology in, and of, itself does not cause particular kinds of change. It is, essentially, an enabling or facilitating agent. It makes possible new structures, new organizational and geographical arrangements of economic activities, new products and new processes, while not making particular, outcomes inevitable.

Without the parallel development of systems of monetary - and credit-based exchange - there could have been no development of economies beyond the most primitive organizational forms and the most geographically restricted sales.

One of the most striking trends, since at least the 1960's, has been for employment in services to grow far more rapidly than employment in manufacturing. It is this trend that has led to the view that developed economies have become de-industrialized and that they are now effectively service economies.