Although French sociology debated at length the issue of globalization, it is surprising to find that up to this day, for all purposes, it neglected the most consistent international attempt to quantitatively measure and study the effects of transnational capital penetration on the economic and social development of the host countries, put forward by the Swiss sociologist Volker Bornschier, from the 1980s onwards. Our article analyses IMF estimates of current economic growth in 180 countries (IMF, 2009), and nine other key indicators of current social global development and shows the relevance of this MNC/FMN penetration approach by Bornschier, 1976, 1980, 1981, 1982, 1983, 2002, Bornschier/Ballmer-Cao, 1979, Bornschier/Chase-Dunn, 1985, and Bornschier/Chase-Dunn/Rubinson, 1978. Our paper shows the significant effects of MNC/FMN penetration or the increases of MNC/FMN penetration for the gross enrollment rate in higher education, unemployment, economic growth in 2010 (IMF), inequality and social security spending as a percentage of GDP, the rule of law, infant mortality, and survival rates of women at age 65. As correctly predicted Bornschier, MNC/FMN penetration reflects the power that transnational oligopolies wield over local economies, having a negative impact on the social performance of countries hosting the penetration of transnational capital, while positively affecting economic growth in the previous 1990-2005 economic cycle. Today, social polarization and stagnation increase as a consequence of the development model, based on high MNC/FMN penetration.