Begins by considering how neoclassical and mainstream economists have modelled the business firm and outlines briefly the evolution of economic thought and that of managerial science about institutional structures involving firms, hierarchies, markets and interfirm cooperation. Subsequently, taking into account this thought, it considers whether growing economic globalisation is likely to result in more frequent business cooperation between firms, what types of alliances may be favoured, and why. Both factors favouring increased business cooperation as globalisation proceeds, as well as those that may retard it, are discussed.