Sunday, October 23, 2011

Crowd-pleasing study in capitalism conspiracy controversy • The Register

Crowd-pleasing study in capitalism conspiracy controversy • The Register: "Three complex systems theorists at the Swiss Federal Institute of Technology in Zurich used the maths traditionally associated with modelling natural systems and applied it to comprehensive corporate data to map ownership among the world's transnational corporations (TNCs).

The study, which will be published in the journal PLoS One, found that 40 per cent of the global operating revenues of 43,060 TNCs were ultimately in the control of just 147 companies, many of which were financial institutions.

The researchers sourced their list of TNCs from Orbis 2007, a database listing 37 million companies and investors worldwide. Using this data, the theorists constructed a model of which companies controlled others through shareholding networks, coupled with company's operating revenues, to map economic power.

Barclays, UBS, AXA and JP Morgan Chase were in the top 10 of those 147, and most of the top 50 were banks, insurance firms or other financial firms, apart from number 50 – which was China Petrochemical Group."

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