Sunday, May 24, 2009

When Corporations Rule the World

By David C. Korten

I wrote a review of Mr. Korten’s second book recently, entitled, “The Post- Corporate World”. In it I stated I would probably read his first book as well, and I just did. He points out with clear examples the obvious truth that huge mega-corporations today truly rule the world. I personally have been a believer for some time now. It took awhile as my life’s career was working for a large corporation for which I had and still do respect and support. I did not want to believe what had occurred in the 60 years following the Second World War.
To digress, corporations up until the late 30’s had done much the same as today, but they were exposed and tamed by the Roosevelt Administration. He referred to them as “Robber Barons”. In his new deal he took drastic steps to bring them under scrutiny and control by enactment of legislation. One of the controls was the Glass-Steagall Act enacted into law in 1934 to reduce the risk of bank failure. It prohibited banks from engaging in the insurance business. In 1998 President Clinton together with a Republican Congress joined forces in repealing this law. Huge mergers of banks and insurance companies were created. Since then investment companies have been added to the mix. The disastrous result we are currently paying the price for, as we taxpayers bail them out to the tune of trillions of dollars with no end in sight.
The framework for corporate takeover started with the best of intentions at a conference in Bretton Woods, New Hampshire July 1-22, 1944. Out of that came The World Bank, the International Monetary System (IMF) and the General Agreement on Tariffs and Trade (GATT). The purpose was to create order in the world economy so that goods and services could be made available between countries without artificial barriers. It was signed by 44 countries. As corporations increased their power the effect has been to decrease sovereignty of countries including our own. In effect corporations rule with impunity. He provides many instances to support his theory.
He points out the obvious that governments all over the world including America have been doing their bidding with their power increasing year by year. He proposes solutions and shares the names of organizations that increasingly are fighting back. Make no mistake, in America it is not one party as compared to the other. They are both under control of the money machine.
Read this book and get involved.

Jack B. Walters
3961 N. Hillwood Circle
Tucson, AZ 85750
(520) 722-2958
May 24, 2009

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