The network of global corporate control (PDF), a study published in PLOS One, analyzes the ownership structures of the world's corporations and finds a tightly-knit cluster of 147 entities control 40 percent of the world's wealth. Not only is this creepy inasmuch as it puts a lot of power into a small number of hands, but it also suggests that the governance of much of the world's wealth is closely correlated, so one disaster could sweep like wildfire across them all:
The work, to be published in PloS One, revealed a core of 1318 companies with interlocking ownerships (see image). Each of the 1318 had ties to two or more other companies, and on average they were connected to 20. What's more, although they represented 20 per cent of global operating revenues, the 1318 appeared to collectively own through their shares the majority of the world's large blue chip and manufacturing firms - the "real" economy - representing a further 60 per cent of global revenues.
When the team further untangled the web of ownership, it found much of it tracked back to a "super-entity" of 147 even more tightly knit companies - all of their ownership was held by other members of the super-entity - that controlled 40 per cent of the total wealth in the network. "In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network," says Glattfelder. Most were financial institutions. The top 20 included Barclays Bank, JPMorgan Chase & Co, and The Goldman Sachs Group.
In the late 1960s and 1970s, the mind-expanding modus operandi of the counterculture spread into the realm of science, and shit got wonderfully weird. Neurophysiologist John Lilly tried to talk with dolphins. Physicist Peter Phillips launched a parapsychology lab at Washington University. Princeton physicist Gerard O’Neill became an evangelist for space colonies. Groovy Science: Knowledge, […]
In a lead editorial in the current Nature, John Wilbanks (formerly head of Science Commons, now “Chief Commons Officer” for Sage Bionetworks) and Eric Topol (professor of genomics at the Scripps Institute) decry the mass privatization of health data by tech startups, who’re using a combination of side-deals with health authorities/insurers and technological lockups to […]
The Wall Street Journal reports that storytellers—people with a natural inclination to craft concise yet compelling narratives without rambling—were found to be hot by science. Feels good to be a writa. The results were the same across all three studies: Women rated men who were good storytellers as more attractive and desirable as potential long-term […]
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