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157 of World's 200 Richest Entities Are Now Corporations, Not Governments

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At the Heart of Global Woes, 157 of World's 200 Richest Entities Are Now Corporations, Not Governments
http://www.commondreams.org/news/2018/10/17/heart-global-woes-157-worlds-200-richest-entities-are-now-corporations-not?cd-origin=rss&utm_term=At the Heart of Global Woes, 157 of World's 200 Richest Entities Are Now Corporations, Not Governments&utm_campaign=Daily Newsletter - During Fundraiser - WITH Fundraising Message&utm_content=email&utm_source=Act-On+Software&utm_medium=email&cm_mmc=Act-On Software-_-email-_-At the Heart of Our Woes, Corporations More Powerful Than Governments | News & Views-_-At the Heart of Global Woes, 157 of World's 200 Richest Entities Are Now Corporations, Not Governments





'As corporations in the United States and around the world continue to reap record profits thanks to enormous tax cuts, widespread tax avoidance schemes, and business-friendly trade and investment policies, an analysis by Global Justice Now (GJN) published Wednesday found that the world's most profitable companies are raking in revenue "far in excess of most governments," giving them unprecendented power to influence policy in their favor and skirt accountability.

Measured by 2017 revenue, 69 of the top 100 economic entities in the world are corporations, GJN found in its report, which was released as part of an effort to pressure the U.K. government to advance a binding United Nations treaty that would hold transnational corporations to account for human rights violations. Spam_A Spam_B "When it comes to the top 200 entities, the gap between corporations and governments gets even more pronounced: 157 are corporations," GJN notes. "Walmart, Apple, and Shell all accrued more wealth than even fairly rich countries like Russia, Belgium, Sweden."

In a statement accompanying the striking new figures, GJN director Nick Dearden denounced Britain's Tory government for eagerly assisting this "rise in corporate power—through tax structures, trade deals, and even aid programs that help big business."

"The vast wealth and power of corporations is at the heart of so many of the world's problems—like inequality and climate change," Dearden noted. "The drive for short-term profits today seems to trump basic human rights for millions of people on the planet. Yet there are very few ways that citizens can hold these corporations to account for their behavior. Rather, through trade and investment deals, it is corporations which are able to demand that governments do their bidding."'



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