The Sovereign State of ITT

The Sovereign State of ITT (1973) by Anthony Sampson, uses the example of ITT (International Telephone and Telegraph) to make a broader point about the weakening of the authority of traditional national governments by the multinational corporations. In part it was a portrait of Harold S. Geneen, the chief executive of ITT from 1959 until 1977. Geneen was a legendarily hands-on manager, who believed it necessary to penetrate through layers of "false facts" to get to the "unshakeable facts" about any of the markets or divisions of his conglomerate.

Related Topics:
1973 - Anthony Sampson - ITT - Multinational corporation - Harold S. Geneen - 1959 - 1977

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In terms of its broader themes, though, this book was one of a spate of early-70s books that promoted the thesis that multinational corporations were taking over the traditional prerogatives and functions of national governments.

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In a review of Sampson's book in the (London) Sunday Telegraph, Sir Frank McFadzean took issue with that thesis.

Related Topics:
London - Sunday Telegraph - Frank McFadzean

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Such corporations are "prisoners of their past investments," he wrote, because "even the most puny government can nationalize, and the only redress is to seek compensation."

Related Topics:
Corporation - Nationalize

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McFadzean was vice chairman of Royal Dutch/Shell.

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