pioneer of computerized stock-market analysis. He influenced the Harvard Business School to study real-world examples of businesses and business situations, which led in particular to Harvard researchers studying the World's Largest Enterprises. Since he had also worked as a political scientist, one focus of his research was the relationship between states and companies: he pointed to the trend for that relationship to become relatively less important and that between companies and customers more so, as business became more international in the post-war world. His work was also a basis for the movement toward privatization in the 1980s. After his death, Daniel Yergin, a friend and colleague, referred to him as "the father of globalization". Product life-cycle theory In 1966 Vernon published an article, "International Investment and International Trade in the Product Cycle", which he himself characterized as "the one which will appear upon my gravestone". Initially descriptive, showing how foreign direct investment by US firms—the movement to offshore production—followed as a response to consumer demand, or to a lag between product innovation and the ability to manufacture enough to satisfy demand, the theory was taken up by companies and underwent modifications in response. Vernon's analysis nonetheless held true, in particular his identification of three imperatives for success in international business: innovation, responsiveness to varying local markets, and cost. Private life and death Vernon was an excellent rower; he competed for many years in crew in the Head of the Charles Regatta and in his 80s broke the world record in CRASH-B Sprints. He was a member of the Cambridge Boat Club for 40 years, and he and his wife, Josephine, donated a weathervane to the club. They had two daughters. He died at his home in Cambridge, Massachusetts, of cancer. Honors He was elected a fellow of the American Academy of Arts and Sciences in 1964. The Association for Public Policy Analysis and Management instituted the Raymond Vernon Prize in 1984 in honor of Vernon, who was the founder editor of their journal, the Journal of Policy Analysis and Management, and renamed it the Raymond Vernon Memorial Award following his death. Selected publications (and Spar, Debora L.) (and Spar, Debora L.; Tobin, Glenn) See also Product lifecycle References External links 20th-century American economists Harvard Kennedy School faculty Harvard Business School faculty Columbia Graduate School of Arts and Sciences alumni 1913 births 1999 deaths People from New York (state) Fellows of