25 Oct 2011

The Capitalist Network that runs the World

The 1% indeed: a new study of the global economy and wealth concentration has identified a complex system of only 147 banks and corporations around the world which share in the largest chunk of the change. While that number might not seem too shocking to those of us paying attention, this study, "by a trio of complex systems theorists at the Swiss Federal Institute of Technology in Zurich, is the first to go beyond ideology to empirically identify such a network of power," writes New Scientist. In other words: valuable data which will not only strengthen OWS' political arguments but will help us identify whether, and how, the global economy is unstable.

Barclays boss Bob Diamond

Number one? Barclays, which currently helps fund Robert Mugabe, among other things. The scientists in the study were split on whether economic concentration necessarily amounted to political power, but it's certainly a porous distinction in some places. Read the full summary and list at New Scientist.

From AlterNet

Barclays boss makes last-ditch plea to halt bank reform - guardian.co.uk, 1 September 2011