Oct

21

Connections, connections connections…what does it all mean?

"A small, tightly woven network of companies, mostly banks, wields disproportionate control over the global economy, according to a new study. To the thousands of protesters swept up in the global Occupy movement, it may seem like a case of science confirming the obvious. It’s based on a few extrapolations and assumptions that are open to debate, but the overall findings shed some light on the intimate ways 21st century capitalism works — and how those functions can undermine the entire system. "

http://www.popsci.com/science/article/2011-10/tightly-knit-network-companies-runs-world-economy-say-swiss-researchers

We present the first investigation of the architecture of the international ownership network, along with the computation of the control held by each global player. We find that transnational corporations form a giant bow-tie structure and that a large portion of control flows to a small tightly-knit core of financial institutions. This core can be seen as an economic “super-entity” that raises new important issues both for researchers and policy makers.

http://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf


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