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MSL NOTES ON READING #37

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School
University of Toronto Scarborough
Department
Sociology
Course
SOCA01H3
Professor
Malcolm Mac Kinnon
Semester
Winter

Description
February 6, 2011 MAPPING THE SOCIAL LANDSCAPE READINGS Reading #37 One World Under Business by: Charles Derber - Globalization enthrones three intertwined institutions. 1. The global financial markets and transnational companies at the heart of the world economy. 2. National governments that are business-oriented regimes linked to each other in economic and military alliances led by the United States. 3. Rising global governments such as the World Trade Organization, the International Monetary Fund, and the World Bank, also strongly led from the White House. - These three power centers increasingly operate as a system. Global power lies in the system itself and the new corporate elites who seek to manage it. - This new world system can be called global corpocracy. A combination of corporation and democracy. It evokes a corporate-driven system that celebrates the idea of democracy more than any earlier global order. - The commanding role of business has become the key element of the new system. This partly reflects the astonishing new size and global reach of transnational corporations. The biggest corporations are each far larger than most countries in the world. o Of the hundred biggest economies in the worldcounting both corporations and countries51 are global corporations. o The top ten include GM, Wal-Mart, Ford, Exxon Mobil, Daimler Chrysler, Toyota, GE, Royal DutchShell, IBM, and BP Amoco. In terms of sale, each of them are larger than about 140 of the 190 nations of the world. The top five corporations are each bigger than 182 of 190 countries. - Corpocracy It globally joins these giant transnational companies and governments in an entangled and unequal partnership. In a robust democracy, there is a firewall between government and business that ensures that people rather than business control the government and make the rules. Business and government should communicate but a firewall must exist to act as a check-and-balance system that limits the power of both and keeps business from taking over. www.notesolution.com
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