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Unformatted text preview: o Greater than states, societies, and individuals o Ability to cause global change-Which economy? o Formal, legal, licit economy o Informal, illegal, illicit economy-Questions: o Separate actors by spheres of operation? o Who defines which is part of which? o Social ramifications? o Ability of state to govern? o Impact of globalization Who or What?-Such economic entities have existed for many centuries o Hanseatic League, HBC (EIC), age of imperialism and empire-Modern elements: o Rationale: profit maximization (revenue and/or share value) for corporations owners only o control and manage commercial ventures and operation outside countries of origin-The modern corporation is the latest legal manifestation and it is globally recognized...
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