Deforestation of tropical forests has significant ecological ramifications. The role played by the multinational corporations (MNCs) in this unprecedented modification of the environment may have foreboding consequences to all inhabitants of the globe. Cattle ranching in Central and South America has accounted for more than half of all deforestation in that region. This article examines the deforestation by MNCs in that part of the world and explores an interactive theoretical framework that can be used to analyze the complex web of political, social, and economic forces related to the phenomenon.