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Stephen Herbert HYMER

Stephen Herbert HYMER, economist. Council Foreign Relations Fellow, 1968-1969; Member, Union Radical Political Economics.

Background

  • HYMER, Stephen Herbert was born in 1934 in Montreal, Quebec, Canada.

  • Education

    • Bachelor of Arts McGill University, Montreal, 1955. Doctor of Philosophy Massachusetts Institute of Technology, Cambridge, Mass., USA, 1960.

    Career

    • Stephen Hymer’s principal contribution was to turn the theory of the multinational corporation away from an international trade context into one of industrial organisation with an emphasis on rent-seeking based on the advantage that the corporation has over those in the foreign country. The thesis was written in 1960, circulated by inter-library loan in typed form for a number of years, and was finally published after Hymer’s death. It gave rise to a torrent of derivative literature, some claiming originality, emphasising transactions costs, internalisation, appropriability, etc.

      In addition to his work on the multinational corporation, Hymer had a deep interest in economic development, especially in the context of Africa. Research Association, Ghananian Planning Board, 1961-1962. Assistant Professor, Massachusetts Institute of Technology, Cambridge, Mass., USA, 1962-1963.

      Assistant Professor of Economics, Yale University, 1963-1970. Professor of Economics, New School Social Research, 1970-1976.

    Major achievements

    • Council Foreign Relations Fellow, 1968-1969. Member, Union Radical Political Economics.
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    Died 1974
    (aged 40)