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The 147 Corporations Controlling Most of the Global Economy

Posted by Unknown on from the free-markets-for-the-rest-of-us dept.

rubycodez writes "Researchers at the Swiss Federal Technology Institute in Zurich have identified a 'Capitalist Network' [PDF] of well-connected companies that control most of the global economy. They further identified the 147 'super-connected' companies that control forty percent or more of the global financial network. If one believes the mega-corporations have most governments of the west in their pockets, does this mean we have a global oligarchy?"

6 of 572 comments (clear)

  1. Correction. by Noryungi · · Score: 5, Insightful

    We have a global plutocracy, which the government of the richest, for the richest and by the richest.

    See here: http://en.wikipedia.org/wiki/Plutocracy

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    The right to offend is far more important than the right not to be offended. (Rowan Atkinson)
  2. Do we have a global oligarchy? by MobyDisk · · Score: 5, Insightful

    Does this mean we have a global oligarchy

    I know it was meant to be rhetorical, but "YES." These statistics merely reinforce the intuition that we have all had for decades. In the modern day, oligarchy == democracy. Companies that are "too big to fail." This is why there are people flooding the streets with with signs saying "We are the 99%." Because it isn't the 99% that count.

  3. Global Oligarchy? by hellfire · · Score: 5, Insightful

    Yes.

    Next Question: How do we topple it?

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    "All great wisdom is contained in .signature files"

  4. No. by imric · · Score: 5, Insightful

    "It seems as soon as someone gets elected to Congress, they are immediately bought by the wealthy elite to represent their interests."

    They can't get that far without being bought and paid for in the first place.

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    Paranoia is a Survival Trait!
  5. Re:If that doesn't put it in perspective by Dunbal · · Score: 5, Insightful

    But most of those companies have thousands of owners, not just one.

    Someone who owns 0.000000000000000001% of a company because he has 100 shares is not an "owner", but an investor. The owners are the banks and the founders, that hold real percentages of the corporation. The little guys just exist as a convenient way to raise capital, and they are the first to take the fall, getting wiped out first if the company goes south. Once in a while the company will throw them a bone in the form of dividends. And once in a while, depending on the company and the share type, these "owners" will be given the illusion of a vote. In the most free case they can choose between pre-determined agenda #1 or pre-determined agenda #2. When they get too annoying their ownership share simply gets diluted. However they certainly do not get to choose what the CEO has for dinner tonight on the company credit card, or what luxury hotel suite he stays in.

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    Seven puppies were harmed during the making of this post.
  6. Re:I'm actually suprised it's that many by 140Mandak262Jamuna · · Score: 5, Insightful
    Nice in theory. But once you shrink the government small enough to be drowned in a bath tub, the first thug who could will drown it. Then who is going to defend you, individual? Time to take your head off the clouds and talk some real sense.

    Already corporations have been ruled people, except they don't need visa and they can't be executed or imprisoned, and they can be created out of thin air to be saddled with the liabilities while the CEO and his gang walk away with all the assets in their personal portfolio.

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    sed -e 's/Chuck Norris/Rajnikant/g' joke > fact