Here is a special midday posting. I might continue to do this, if I stumble upon a worthwhile news item. Full disclosure, this one is pretty wonky, but interesting nonetheless. This comes from a site is quickly becoming one of my favorites. It’s http://www.thetruthseeker.co.uk. Definitely worth a look, if you find the time.
Today, they posted an article that talked about a scientific study of the connectedness (to the economy) of the world’s largest companies. The group that performed the study, the Swiss Federal Institute of Technology in Zurich, found that out of over 43,000 multinational companies, just 147 exert inordinate control over the world economy. This is done in a number of ways, one of which is through share ownership across the large companies.
They do not come out against this phenomenon of concentration. They state that concentration can be good or bad. Other analysts say that understanding this, allows us to see how unstable a network like this, and in turn, the dangers to the economy. If one company suffers any distress, it is very likely to spread and spread quickly. Two analysts are quoted within the article and posed interesting ideas.
One stated we should have global anti-trust laws, in the hopes limiting connectedness. Another stated that firms should be taxed for excess connectivity to discourage it. I have no idea where you would start, in putting a laws like this into effect. But, it is something to consider.
Like I said earlier, this article is deep in the weeds. I urge you to take a look yourself. It took me a couple of reads to totally get it. But, at the very least, scroll to the bottom of the page, and see the top 50 companies. Some of the names will surprise you. # 4 on the list will definitely raise the eyebrows of a few people reading this blog. Here is the direct link to the article itself.
And, here’s a quick vid of some brutality from the “Occupy Melbourne” site. It’s good to know we’re not the only ones living in a police state:
And, let’s finish up with the best quote I’ve seen in a while. It sums up why I think I’m progressive by nature:
“I can’t understand why people are frightened of new ideas. I’m frightened of the old ones.” John Cage
See you next time,
James
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