Whether you Â think the world is too large and diverse to be controlled by a relatively small group of gigantic companies or assume that it’s not and they do, a small team in Zurich has finally done the work to find out. Â The short of it? Â It’s not and they do, sort of. Â Here’s what it looks like:
What is that? Â It’s 1,318 companies in 26 countries and their 12,191 links. Â At the core of this network, the study found that 147 transnational corporations (TNCs) form a “super entity” with control over 40% of the economic value of all 43,060 TNCs in the world.
Who would be the tight-knit group at the coreÂ of a “giant bow-tie structure” of TNCs? Â That’s right, financial institutions. It’s not really a surprise though. Â Banks are financing this little tragic comedy we’ve got going on here. The goal of the study, The network of global corporate control (PDF), was not to unearth a conspiracy, but to confirm the existence of such an economic Voltron so that we might further assess it’s nature and potential risk to the global economy. Â And considering the banks’ track record, it’s about time.[via Boing Boing]