Problem
Elitist control of global economy
Experimental visualization of narrower problems
Other Names:
Unrepresentative control of international monetary systemElitist control of economic development
Incidence:
In 1999, 447 billionaires had wealth greater than the income of one half of humanity. 100 multinational corporations control one-fifth of all foreign-owned assets in the world. Due to the trend in mergers and acquisitions, this concentration of wealth and power is increasing.
Broader Problems:
Monopoly of powerRepressive new world orderMilitary and economic hegemonyVulnerability of socio-economic systems to globalizationElitism Narrower Problems:
Monetary blocInstitutional economic dominationPrivatization of intergovernmental monetary systemUndisclosed control of national economies by limited number of individualsElitist control of information technology Related Problems:
MegalomaniaRight-wing political extremism Aggravates:
Economic inefficiencyAbuse of economic powerUncontrolled flow of fundsElitist control of productionSocially unaccountable global governanceOver-centralization of global decision-makingOver-reliance on economic interest groups by policy agencies Strategies:
Exposing elitist control of global economyControlling global economyMonitoring economic control by transnational corporations References:
Korten, David: When Corporations Rule the WorldBudhoo, Davison L: Enough is Enough: Dear Mr Camdessus, open letter of resignation to the managing director of the International Monetary FundWormser, Rene A: Foundations: Their power and influence (1958) Subject(s):
Commerce → Money??Cybernetics → Control??
→ Systems??
Development → Development ??
Economics → Economic??
Economics → Economy??
International Relations → Planetary initiatives??
Society → Class, caste, elites??
Related UN Sustainable Development Goals:
Problem Type:
C: Cross-sectoral problems Date of last update
17.04.2019 – 11:23 CEST