Dr. Raymond Vernon (1913 – 1999) was Professor Emeritus at the Kennedy School of Government in the United States. Raymond Vernon is especially known for his Product Life Cycle Theory (International product life cycle / plc).
Raymond Vernon obtained his Bachelor’s degree (B.A.) cum laude from the College of the City of New York in 1933. In 1941, Raymond Vernon obtained his Ph.D. in economics from the University of Columbia with his doctoral thesis ‘The regulation of stock exchange members’.
After he had obtained his doctorate, Vernon worked almost 24 years in share trading and stock broking. Next, he was engaged in improving the relations between the United States, Japan and Europe. He particularly proved his worth during the negations with Japan about exports issues.
In 1959, Raymond Vernon joined Harvard Business School (HBS) as Faculty Director. There, he set up a large multinational enterprise research to study the direction from the United States. The research team looked at the aspects in terms of finance, organization, production, management, marketing and business-government relations. This produced several theories including that of the product life cycle. In the course of time Vernon wrote numerous books and articles about multinational management, doing business in other counties, relations with the Government etcetera. According to the Economist (1999), he is still regarded as the discoverer of Globalization.
In 1981, Raymond Vernon transferred to the Kennedy School of Government as a central figure between Business and Government and continued his research in the area of Globalization. Vernon died at the age of 86.
Publications by Raymond Vernon et al:
- 1999. In the Hurricane’s Eye: The troubled prospects of multinational enterprise
- 1991. Iron Triangles and Revolving Doors
- 1989. Beyond Globalism: Remaking American Foreign Economic Policy
- 1983. Two Hungry Giants: The United States and Japan in the Quest for Oil and Ores
- 1979. The Product Cycle Hypothesis in a New International Environment
- 1977. Storm Over the Multinationals: The Real Issues
- 1974. Big Business and the State: Changing Relations in Western Europe
- 1971. Sovereignty at bay: The multinational spread of U. S. enterprises, Journal: The International Executive , vol. 13, no. 4, pp. 1-3
- 1968. Manager in the international economy, Journal: The International Executive , vol. 10, no. 4, pp. 5-6
- 1966. International investment and international trade in the product cycle, Journal: The International Executive , vol. 8, no. 4, pp. 16-16
- 1999. Raymond Vernon Dies at 85, www.news.harvard.edu/gazette/1999/09.23/vernon.html
- 1999. Raymond Vernon, oracle of globalisation, died on August 26th, aged 85, The Economist, www.economist.com/node/238854.
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