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SOCA02H3 (310)
Chapter 37

Chapter 37 Notes from MAPPING

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University of Toronto Scarborough
Malcolm Mac Kinnon

CHAPTER 37One World Under Business Charles Derbery C Wright Mills notion of the power elite can be seen in many social contexts in the US including the recent political and economic manoeuvring related to terrorism homeland security the war in Iraq and the aftermath of Hurricane Katrina y The following reading by Charles Derber a professor of sociology at Boston College examines the complicated relationship between governments and global companies dominate government agendas and expand their business into larger global financial marketsy Globalization enthrones three intertwined institutionsThe first are the global financial markets and transnational companies at the heart of the world economyThe second are national governments that are businessoriented regimes linked to each other in economic and military alliances led by the USThe third are rising global governments such as the World Trade Organization the International Monetary Fund and the World Bank also strongly led from the White House y These three power centers increasingly operate as a systemy Global power lies in the system itself and the new corporate elites who seek to manage it y This new world system can be called a global corpocracy by joining the words corporation and democracy this appellation perfectly evokes a corporatedriven system that celebrates the idea of democracy more than any earlier global ordery The commanding role of business has become the key element of the new systemy Corporacy globally joins these giant transnational companies and governments in an entangled and unequal partnershipy In a robust democracy there is a firewall between government and business the firewall ensures that people rather than business control the government and make the rules the wall acts as a checksandbalance system that limits the power of both and keeps business from taking overy In corpocracy the firewall between big business and government is chipped away flooding money into government and eroding popular controly The incestuous melding of business and constitutional government makes governments look and act more like corporations and corporations look and act more like governments governments act to protect profits and corporations speak the language of social responsibility and democracy the global firewall seems nearly as obsolete as the Berlin Wallthis must change in order for globalization to become a truly democratizing force it must acknowledge and reconstruct the relation between business and government to ensure popular control
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