Big business and national governments: Reshaping the compact in a globalizing economy

This paper was written by Raymond Vernon for the conference, "Mapping the M ultinationals, " organized by Bruce Mazlish and Alfred Chandler in October 1999. Professor Vernon died on August 26, 1999, at the age of 85, before th e paper was finished and presented. It was the last paper he wrote. We are pleased to be able to publish it posthumously in this symposium, with the p ermission of his daughter Heidi Vernon. The paper was subject to minimal co pyediting by the editor of JIBS.