They run the World

Corporations are running the World. Only ten largest corporations are wealthier than most countries in the world combined.

"Today, of the 100 wealthiest economic entities in the world, 69 are now corporations and only 31 countries". "This is up from 63 to 37 a year ago. At this rate, within a generation people will be living in a world dominated by giant corporations."

Indeed, multinational behemoths Shell, Apple, and Walmart each rake in more revenue than the world's 180 "poorest" countries—a list that includes Ireland, Greece, Israel, South Africa, Vietnam and Colombia—combined. And the top ten largest companies have a whopping combined value of $2.9 trillion, which is larger than China's economy. Walmart, the biggest corporate entity in the world, is valued at over $482 billion, which makes it wealthier than Spain, Australia, and the Netherlands, individually.

The vast wealth and power of corporations is at the heart of so many of the world's problems—like inequality and climate change. The drive for short-term profits today seems to trump basic human rights for millions of people on the planet. And the problem is getting worse with every passing day.

While they privatise everything from education and health to border controls and prisons, they stash their profits away in secret off-shore accounts. And while they have unrivaled access to decision makers they avoid democratic processes by setting up secret courts enabling them to bypass all judicial systems applicable to people. Meanwhile their raison d'etre of perpetual growth in a finite world is causing environmental destruction and driving climate change. Stories of corporations violating rights are all too often seen in daily papers throughout the world.

The battle against corporate power has many fronts. People must think of alternative ways to produce and distribute the goods and services. The notion that only massive corporations can make the economy and society work should be challenged otherwise unchallenged corporate power will continue to grow enormously and keep the notion boiling that there is any other way to run society.

  [contributed]

Frontier
Vol. 49, No.27, Jan 8 - 14, 2017