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.
Beatboxer Tom Thum had ENT doctor and laryngeal surgeon Dr Matthew Broadhurst shine an endoscopic camera down his throat while beatboxing: “I wanted to find out how my larynx functioned when beatboxing compared to how it functions normally with speech, and whether or not there were any abnormalities in my laryngeal anatomy. I also had […]
Gastric bypass surgery is remarkably effective at promoting weight-loss (it cuts the long-term risk of early death from morbid obesity by 40%), and it’s long been presumed that the major action by which it worked was that, by bypassing the parts of the gut where most food absorbtion takes place, it limited the calories that […]
Timothy writes, “Diego Gómez is a Colombian conservation biologist. When he was a college student, he shared a single research paper online so that others could read and learn from it, just as he did. Diego was criminally prosecuted for copyright infringement, and faced up to 8 years in prison.”
If you don’t want to get stuck footing the bill for a hit and run, this dashboard-mounted camera offers up to 2K resolution to make sure you always have a reliable witness, and it’s available in the Boing Boing Store for 30% off it’s usual price.The PapaGo mounts unobtrusively to your windshield to see everything […]
While some people still maintain that everything in Apple’s walled garden “just works” and is immune to the rampant malware of the Windows world, the reality is different. The Mac’s growing market share has made it a much more viable target for malicious actors, and its built-in tools aren’t always enough to fix things. Drive […]
Boasting an IPX6 waterproof rating, the Trakk Bullet Ultra Compact Waterproof Bluetooth Speaker resists dust and heavy rainfall. It’s currently available in the Boing Boing Store.The Trakk Bullet offers the same wireless convenience as other portable speakers, but few are built as tough as this one. Its utilitarian construction is designed to be a totally low-maintenance […]