m view of MNC activity in developing coun tries. "The owners and managers of global corporations view the entire world as their factory, farm, supermarket, and play ground."7 An alternative view was expressed by former American Undersecretary of State (and, now, investment banker) George Ball, who refered to MNCs as cosmocorps, and defended their activities, which he described as "taking the raw materials produced in one group of countries, transforming these into manufacturing goods with the labor and plant facilities of another group, and selling the products in still a third group . . . with the benefit of instant communications, quick transport, computers, and modern management techniques."8 3Agreeing with Ball, Peter Drucker, American management and organization analyst and theorist, said that, "to the develop ing country . . . , the multinational is both highly important and highly visible."9 On the other hand, Eric Williams, former Prime Minister of Trinidad and Tobago, said that the psycholog ical dependence of developing countries on the industrial coun tries was born of colonialism, and is fostered by the modern MNC; that such "psychological dependence strongly reinforces the other forms of dependence," and perpetuates dependence as "a state of mind"; an action which "seems to have crippled Caribbean self confidence and Caribbean self reliance . . . psychological dependence leads to an ever growing economic and cultural dependence on the outside world."10
It has also been contended that economic growth in devel oping countries depends on the availability of several resources productive facilities, skilled labor, materials, effective organizations, and capital.11 This line of reasoning contends further that the MNC, if not the only source of most of these resources in the quality and quantity required by developing countries, is, most certainly, the most efficient source.12 It is contended, also, that foreign capita...