“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?”
It’s staggering to see that 1% of the world’s corporations control 40% of the world’s economy, though not exactly surprising either. This fact deeply underscores what Jim Wallis wrote over on Sojourners about the “Un-Economy” last week. Jim’s post is worth a read.