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.
I’ve had quite a few fun afternoons playing with dry ice from making spooky fog in the kitchen to exploding plastic bottles in the yard. But I’ve never had the opportunity to pour hot lava over dry ice. In this video, the lava is 1400 °C and the dry ice is -78C°. So cool! And […]
A Boston University team have developed an acoustic, 3D-printed metamaterial whose topology is such that it reflects 94% of human-audible sound; the researchers' demonstration involves inserting a ring of this stuff in a PVC pipe and blasting a speaker down one end: light and air emerges from the other end, but sound does not.
Scientists Lior Appelbaum and David Zada in Israel publish new proof that sleep serves to help our brains repair damage.
Seems like drones are doing a lot of jobs these days, from reconnaissance to delivery. Now, we can add “keeping the Death Star safe” to that list. Whether you’re a drone enthusiast or a Star Wars fan, these Star Wars Propel Drones are undeniably the coolest toy around. Yes, that’s a fully functional drone replica […]
It’s spring clearance time for the Boing Boing Store, when some of the best deals from the holidays return even cheaper than before. From top-rated apps to educational software to the cutest record player of all time, they’re all back with a little extra incentive. Shop your heart out before tax season wraps up! Use […]
Big companies want automation on a big scale. Doing that means diving into the tricky world of machine learning and data science. And no matter what platform you’ll be implementing it on, you can learn how with the Machine Learning & Data Science Certification Training Bundle. In 48 hours and through eight courses, this bundle […]