Transfer Pricing in International Business

The Evolution of Organizations

Francois de la Rochefoucauld is attributed with the saying “The only constant in life, is change.” Not only is this true of humans, it also applies to the evolution of organizations. In the Preface to this book, I declared that trade has been conducted in one form or another for all of recorded history. In all probability, it happened before then as well but one thing is certain, the development of trade has contributed to the modern, globalized world in which we live.

From the earliest times of business exchange, the trader, or peddler of goods, was known as a merchant. He, for he was almost universally a male, was a businessperson engaged in retail trade. The merchant would more often than not travel and traffic ...