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.
Tiny micromotors about the width of a human hair traveled through a mouse’s stomach delivering antibiotics to treat a stomach ulcer. The motors are powered by bubbles. According to the researchers from the University of California San Diego, the microrobot-based treatment proved more effective than regular doses of the medicine. From New Scientist: The tiny […]
In 1971, astronomer Frank Drake, the father of the search for extraterrestrial intelligence, drew a map pinpointing Earth in our galaxy. That diagram, a “pulsar map,” was etched on a plaque designed by Frank and Carl Sagan and first carried into space in 1972 by the Pioneer 10 and 11 spacecraft. In 1977, the pulsar […]
Last night, NBC Nightly News aired the wonderful video below about the Voyager Golden Record vinyl box set I produced with my friends Tim Daly and Lawrence Azerrad! Forty years ago this month, NASA launched two spacecraft, Voyager 1 and 2, on a grand tour of the solar system and beyond, into the mysteries of […]
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