Here I want just to point out a recent study that looks at corporations. The study shows that a small number of financial institutions basically controls the overwhelming majority of transnational corporations (TNCs). To be precise "only 737 top holders accumulate 80% of the control over the value of all TNCs." These, mostly financial, institutions "are at least in the position to exert considerable control, either formally (e.g., voting in shareholder and board meetings) or via informal negotiations," still according to the same paper.
How many Chinese groups are part of these elite institutions? Well below the list of the top 20.Read it at Naked Keynesianism
Is China the new #1?
by Matías Vernengo | Professor, University of Utah
Vernengo also alerts that James K. Galbraith's new book,
Inequality and Instability: A Study of the World Economy Just Before the Great Crisis, is now available.
Vernengo also alerts that James K. Galbraith's new book,
Inequality and Instability: A Study of the World Economy Just Before the Great Crisis, is now available.
1 comment:
An other demonstration of how powerful have banks become. They literally control the system to an higher degree: they control central bank policies, they control corporations via shareholding, they control the flow of the economy and purchasing power via credit (they also, via credit lines, can have corporate power).
Banks have way too much power.
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