Whenever we examine the multinationals, therefore, we are quickly
brought face-to-face with their. monolithic power and the fact that the
twentieth century has witnessed a worldwide transformation where, as
business historian Alfred Chandler has put it, the "visible hand" of management
has replaced the "invisible hand" that Adam Smith saw as guiding
competitive market economies. The power. is not just economic. It is
cultural and political as well. Note, for example, the global marketing
alliance struck between McDonald's and Disney. In coming together in
this way, the two companies have created a global force that will have a
massive socializing impact on youths throughout the world