As correctly predicted by quantitative sociology, but largely overlooked by the medical profession, the development style, implied by a high MNC penetration of their host countries, reflects the oligopolistic power, which transnational corporations wield over local economies. We took up an idea from Austro-American economist Joseph Alois Schumpeter (1883-1950), which states that the long-term effects of oligopolistic power are negative and lead toward economic and social stagnation. Our data show that although MNC penetration indeed led to certain short-term growth effects after 1990, today, social polarization and stagnation increase as a consequence of the development model, based on high MNC penetration. There is a negative trade-off between MNC penetration and health, both in terms of life expectancy and avoiding under-five mortality. But it can be shown for the 115 countries with complete data that Richard G. Wilkinson's hypothesis still plays an important role in explaining deficient health development in the world system, once we control for the effects of MNC penetration-driven globalization.