Foreign oil companies suffered major expropriations of their property during the postwar period, usually without payment of full compensation to the … - Neil H. Jacoby

Communist propagandists have long maintained that capitalism is the breeding ground of corruption. One would, therefore, expect to find in the communist orbit a ‘new man’ who has no appetite for the decadent bourgeois habits of the West. But fact as distinguished from myth reveals that corrupt practices abound in the communist nations.

The multinational corporation is, beyond doubt, the most powerful agency for global economic unity that our century has produced. It is fundamentally an instrument of peace. Its interest is to emphasize the common goals of peoples, to reconcile or remove differences between them. It cannot thrive in a regime of international tension and conflict. The instrumentality of multinational business is man’s best hope of achieving political unity on this shrinking planet.

Still another trend supports greater emphasis upon the social responsibilities of business firms and greater interest in the interactions between business and public policies. The great problems of contemporary society, such as environmental pollution, waste disposal, unemployment, poverty, urban renewal, and mass transit, are most likely to be solved by combining the organizational discipline of the action-oriented business corporation with the legal and taxing powers of government. Private corporations will more frequently be used to attain public purposes. At the same time, the public has made it clear that it will no longer tolerate the thrusting of private cost upon itself.