The concern of the authors of this study, is not that the system is out of whack.That, there is no way in hell the concentration of wealth and control should be this CONTROLLED in so few hands.
Although it clearly is
Although it clearly is
There is no concern expressed at the lack of real power this leaves for the masses.
The lack of democratic control belonging to the people.
The lack of accountability.
The lack of freedom.
The lack of real choice.
No the sole concern expressed is " pinpoint threats to the global economy and how to stop crises from spreading throughout the financial sector."
Pinpointing threats and stopping them from spreading throughout the financial sectors..
Let's look at what the study identified. That is what is very interesting and really telling.
It speaks to the concentration of wealth and power in the hands of too few!
Study uncovers which companies are the 1%
A new analysis of just who owns what in the global economy found that of the 43,000 or so transnational corporations in the world, 40 per cent of all those company's revenues belong to just 147 corporations, most of which were financial institutions such as Goldman Sachs and Barclays. The study, undertaken by complex systems theorists in Switzerland, found that the "core" of the global economy is a group of 1,318 companies that are highly connected to one another through shared ownership.From the New Scientist
The team found that of those 1,318 firms, 147 form a "super-entity" of companies whose ownership is shared among the rest of the 147. Analysts are concerned that the 147, which again, control some 40 per cent of all revenue in the global economy, are too interconnected
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.
"Concentration of power is not good or bad in itself, says the Zurich team"
Concentration of power is dictatorial and oppressive, this statement is pandering to that power.
The information is good, but the way the team is framing it is... let's not look to hard at the imbalances. Let's just see how we can manage them better.
"It's disconcerting to see how connected things really are"
Disconcerting doesn't even begin to cover the monstrosity of these "connections"
The top 50 of the 147 superconnected companiesI only posted the top 25, you will have to go to the link at New Scientist for the rest.
But the top 25 should give you a good idea of who the big global players are.
1. Barclays plc
2. Capital Group Companies Inc
3. FMR Corporation
5. State Street Corporation
6. JP Morgan Chase & Co
7. Legal & General Group plc
8. Vanguard Group Inc
9. UBS AG
10. Merrill Lynch & Co Inc
11. Wellington Management Co LLP
12. Deutsche Bank AG
13. Franklin Resources Inc
14. Credit Suisse Group
15. Walton Enterprises LLC
16. Bank of New York Mellon Corp
18. Goldman Sachs Group Inc
19. T Rowe Price Group Inc
20. Legg Mason Inc
21. Morgan Stanley
22. Mitsubishi UFJ Financial Group Inc
23. Northern Trust Corporation
24. Société Générale
25. Bank of America Corporation
So when people say, banksters rule! They aren't kidding.
If you want to read some more, here is the complete PDF. The Network of Global Control