D
Deleted member 231381
Unconfirmed Member
Sure. I mean, your first paragraph there mostly describes the Industrial Revolution. The main thing I'd quibble with is the assumption that the reason there are no other available employers is because the MNC somehow cleared the market. If local employers could offer a better deal then it's unclear how they get eliminated.
MNCS in the short-run operate at margins local firms can't compete with. Local firms collapse. The MNC is the only firm in the market. The MNC then puts prices up above what they were in the local-only market. Local firms can't re-enter the market because that requires an upfront investment they don't have. This is a really well-known occurrence, a specific example of which is called dumping.
https://en.m.wikipedia.org/wiki/Dumping_(pricing_policy)