Perhaps the "Occupy Wall St" (OWS) folks are correct in asserting that daily life around the globe is controlled by a small number of corporations represented on Wall Street that can even force the U.S. government to do its will (e.g., bail it out when it makes spectacular business and economic mistakes). I say this because of a forthcoming paper in PLoS One that examines the global network of Transnational Corporations (TNC). The "plain English" version/mass media description of the paper is available on the "New Scientist" website and probably many more websites in coming days; see: http://www.newscientist.com/article/mg21228354.500-revealed--the-capitalist-network-that-runs-the-world.html
The article in PLoS is still in revision but a current revision can be obtained from arXiv.org; see: http://arxiv.org/abs/1107.5728 The "New Scientist" provides a list of the "Top 50" corporations that appear to control the world financial network (the revision contains the list on page 33 of the PDF). Number one is, perhaps surprisingly, Barclays PLC. JP Morgan Chase is #6, Vanguard Group is #7, Merrill Lynch is #10, and Goldman Sachs is #18. I am surprised to see TIAA (I presume of TIAA-CREF fame) is #29. As one of the people commenting on the "New Scientist" website pointed out, only one of the top 50 companies actually produces goods (#50 China Petrochemical Group) -- the rest are in financial services. Well, at least it is somewhat comforting to know who really rules the world. 1/2 :-) -Mike Palij New York University [email protected] --- You are currently subscribed to tips as: [email protected]. To unsubscribe click here: http://fsulist.frostburg.edu/u?id=13090.68da6e6e5325aa33287ff385b70df5d5&n=T&l=tips&o=13595 or send a blank email to leave-13595-13090.68da6e6e5325aa33287ff385b70df...@fsulist.frostburg.edu
