Corporations are running the world, according to new figures released Monday from the U.K.-based Global Justice Now.
“As multinationals increasingly dominate areas traditionally considered the primary domain of the state, we should be afraid.”
—Aisha Dodwell, Global Justice Now
The economic and social justice advocacy group discovered (spreadsheet) that the ten largest corporations are wealthier than most countries in the world combined.
“Today, of the 100 wealthiest economic entities in the world, 69 are now corporations and only 31 countries,” wrote Global Justice Now campaigns and policy officer Aisha Dodwell. “This is up from 63 to 37 a year ago. At this rate, within a generation we will be living in a world entirely dominated by giant corporations.”
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Indeed, multinational behemoths Shell, Apple, and Walmart each rake in more revenue than the world’s 180 “poorest” countries—a list that includes Ireland, Greece, Israel, South Africa, Vietnam, and Colombia—combined.
And the top ten largest companies have a whopping combined value of $2.9 trillion, which is larger than China’s economy.
“The drive for short-term profits today seems to trump basic human rights for millions of people on the planet.”
—Nick Dearden, Global Justice Now
Walmart, the biggest corporate entity in the world, is valued at over $482 billion, which makes it wealthier than Spain, Australia, and the Netherlands, individually.
“The vast wealth and power of corporations is at the heart of so many of the world’s problems—like inequality and climate change,” said Nick Dearden, director of Global Justice Now. “The drive for short-term profits today seems to trump basic human rights for millions of people on the planet. These figures show the problem is getting worse.”
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