Just a few years ago, multinational enterprises were busily and profitably occupied in spreading their subsidiaries across the globe. Today, the world is awash with actions and proposals that would restrain the multinational enterprise and would alter its relations to nation-states.

There is no lack of explanations for the shift in mood and direction. Yet most explanations seem to ignore the real causes of the tension between multinational enterprises and nation-states, and most of the prescriptions seem impractical or irrelevant in dealing with those causes.

What are the roots of the tension between the enterprises and the states? Perhaps the

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