“One super-corporation runs the global economy”..and it could be terrifyingly unstable
A University of Zurich study ‘proves’ that a small group of companies – mainly banks – wields huge power over the global economy.
The study is the first to look at all 43,060 transnational corporations and the web of ownership between them – and created a ‘map’ of 1,318 companies at the heart of the global economy.
The study found that 147 companies formed a ‘super entity’ within this, controlling 40 per cent of its wealth. All own part or all of one another. Most are banks – the top 20 includes Barclays and Goldman Sachs. But the close connections mean that the network could be vulnerable to collapse.
‘In effect, less than one per cent of the companies were able to control 40 per cent of the entire network,’ says James Glattfelder, a complex systems theorist at the Swiss Federal Institute in Zurich, who co-wrote the research, to be published in the journal PLoS One.
Some of the assumptions underlying the study have come in for criticism – such as the idea that ownership equates to control. But the Swiss researchers have no axe to grind: they simply applied mathematical models usually used to model natural systems to the world economy, using data from Orbis 2007, a database listing 37 million companies and investors.
The research requires more analysis, but it could be used to look for the weaknesses in the network of global wealth, and prevent future financial disaster.
Looking at ‘connectedness’ also puts paid to conspiracy theories about the world’s wealth – companies connect to highly connected companies for business reasons, rather than world domination.
The ‘core’ of 147 companies also represents too many interests to wield real political power – but it could act ‘as one’ to defend common interests. Sadly for market reformers, resisting change may be one such common interest.
————-
“The study found that 147 companies formed a ‘super entity’ within this”
preaching to the converted here..thats how its all tied up..the 1% indeed..
401
Yes. I saw this one before on another blog. The corporate oligarcy is just in business to do business for maximum control and profits. They will use any means including the political elites, the law, lobbying their interests (literally), religion, and the sponsorship of the 1%. No moral issues here, they are just getting away with whatever the public will tolerate. Want to stop it. Fire the State and instiute some moral rules of the land. Also, stop buying their shit and using theri credit cards and loans to go into debt. You are a slave to debt. Your creditor is the Devil himself. He owns everything you have…except for your mind (on a limited basis).
we have our souls they cant buy but give them time and they will make a derivative for it and trade it..
They do…and will, to any body that gives him/herself to their market and puts themselves up for trade, for they trade their wealth for mens’ souls.
http://www.imdb.com/title/tt0104299/
We are the kids of the Universe. No need to worry
Cosmos is much more complicated then anyone can even imagine.
My buissnes is HAPPINESS!
“Looking at ‘connectedness’ also puts paid to conspiracy theories about the world’s wealth – companies connect to highly connected companies for business reasons, rather than world domination.”
Of course it is impossible that “business reasons” might be equivalent to world domination. It is completely absurd to think that monopolies are favorable to those that head them and that money gained by being dominant in business could be used to lobby/purchase elections that continue to promote those monopolies’ interests. That wouldn’t make any sense at all. /s
i think your post was sarcasm..i hope it was
yes, I put the little /s tag but it went behind the gravatar.
thank god for that
Yes, from my perceptive point of view…it was either sarcasm or common sense gone array,,,one of the two.