Global Concerns - 6 - Corporatism & the Global Concentration of Power in the Hands of a Few

1. There are numerous global ‘tie-ups’ joining those in political or economic power with the wealthiest (tiny) proportion of the world’s population. In truth, the crucial power globally now lies in the corporate sector and not in the political machinery of governments, whether democracies or not.
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2. In particular, big and powerful corporations are accountable only to themselves, (not to national governments or to global citizens at large). Over recent decades they have pressed politicians and political parties around the world to gradually 'free' them. This was exemplified and amplified by the Reagan era (in the U.S.A.) and the Thatcher era (in the U.K.) which pushed neoliberalism into its current dominant role in determining the fates of countries and peoples all around the world.

3. So, corporations and businesses have gradually been 'freed' from more and more laws and regulations that were originally designed to protect people and planet. Instead, the global governance systems now give corporations and businesses only the laws and regulations they want, along with all the tax loopholes they want. For the past three or four decades Corporations and businesses have increasingly been 'free' to do what they want with the world's capital, resources, people and environment - well beyond the control of governments or citizens.

CORPORATISM :

4. This neoliberal 'Corporatism' already determines the fate of most countries around the world and it seems certain to dictate the future of the planet in the coming decades. Corporatism has very widespread negative effects around the world. For example, most of the damage to economies and citizens around the world is being done by a few thousand big international corporations acting with psychopathic greed on a global scale.

5. In many countries the company laws under which these corporations exist actually require them to act solely to maximise shareholder profits. So, paradoxically, it is illegal for them to conform to any other needs - regardless of the damage they are doing to societies and the planet. Our politicians and political systems are therefore complicit in the damage being done because they create and leave in place the laws and regulations which allow this to happen.

6. The spectacular scale of the recent systemic failures of ‘Casino Capitalism’ around the world are all too obvious. These failures have taken place inside the Banking and Finance industries and damaged numerous other industries and populations. These systemic failures have also brought several nations to their knees and tripped many other nations into a newly dominant ideology under the name of 'austerity'.

7. Only feeble steps (if any) have been taken to sort out Banking and Finance - the industries at the very core of the global capitalist economy. It is very clear that
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politicians and political institutions have no intention of sorting out these systemic problems. So, more big problems are already appearing and more will develop in future.

8. This 'Corporatism' has been undermining real democracy and social progress in many parts of the world for a very long time. It undermines and works against the most fundamental needs of both people and planet. History shows that concentrations of power have also been monumentally disastrous in communist states. All over the world, the workings of governments and corporations are not transparent enough or sufficiently accountable to the people.