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.
NASA today announced that astronomers studying data from NASA’s Great Observatories have found the best evidence yet for “cosmic seeds in the early universe that should grow into supermassive black holes.”
Could you recover a murder victim’s last sight of their killer by extracting it from the retina? Little more than a century ago, forensic scientists thought it might be possible. After all, in 1877 physiologist Wilhelm Friedrich Kühne was able to develop a simple image from an albino rabbit’s dissected eyeball. (Above, the two images […]
Backed by huge donations from vitamin companies, the American Association of Naturopathic Physicians is pushing to get naturopathic medicine recognized and regulated in all 50 US states, paving the way to receiving public funds in the form of Medicare reimbursements.
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