In search of a transnational capitalist class: Alternative methods for comparing director interlocks within and between nations and regions

Abstract

Theorists of globalization have hypothesized the emergence of a transnational capitalist class that is becoming increasingly integrated across national borders. One method of evaluating this hypothesis has been to apply network analysis to study the frequency and pattern of transnational ties within global interlocking directorates. The results of such studies are mixed, both as regards the extent of transnational interlocking and its regional distribution. In an effort to resolve this ambiguity and advance the state of research in this area we undertake two main tasks. First, we submit the prevailing methodology used in such studies to a critical evaluation in which we identify and address some of its theoretical and methodological limitations. Second, we introduce and illustrate three alternative methods for assessing the extent and pattern of global interlocking directorates. Each method conceptualizes transnational interlocking in a slightly different manner and brings different aspects of the process into focus. Despite these differences, all four methods point to the conclusion that a transnational capitalist class is very far from being realized on a global scale. On the other hand, the combined evidence is much stronger and relatively consistent for the emergence of a more circumscribed transnational capitalist class, centered in the North Atlantic region, which has made significant strides in transcending national divisions within and between Europe and North America.