Corporatocracy

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The term corporatocracy is generally accepted as a euphemism for the corporate aristocracy or modern corporate oligarchy, an expression meant to identify the loose confederation of corporations, banks, and media who use their financial and political influence to bend the will of nations, supersede national sovereignty and governmental structures, and serve their own interests.

A corporatocracy or corpocracy is also considered to be a form of government where a corporation, group of corporations, or entities run by corporations, controls the direction and governance of a country.

Contents

Confessions of an Economic Hit Man

The term corporatocracy was popularized in the 2004 best-selling book, Confessions of an Economic Hit Man:

“The corporatocracy is not a conspiracy, but its members do endorse common values and goals. One of corporatocracy's most important functions is to perpetuate and continually expand and strengthen the system. The lives of those who "make it," and their accouterments — their mansions, yachts, and private jets — are presented as models to inspire us all to consume, consume, consume. Every opportunity is taken to convince us that purchasing things is our civic duty, that pillaging the earth is good for the economy and therefore serves our higher interests. “ (Preface pg. xiii)

Corporatocracy and power

The corporatocracy has immense power and influence, even the power to foment war, as John Omaha writes in Sourcewatch about corporate influence in the Iraq War:

“The war against Iraq is the creation of the corporations that have seized control of America and its institutions. America was once a democratic republic. It is now a corporatocracy. Corporations are soulless, deathless entities that have all the rights of citizenship that real people have and none of the responsibilities. Corporations have accumulated vast wealth that they have used to purchase, infiltrate, and colonize American government and many governments around the world. Corporations have absorbed the media, the two major political parties, the Congress, the Executive, almost all the Judiciary, in America and in many other countries, welding them into the globe-spanning unit that I have named the Corporatocracy. Corporations have distilled the essence of greed and rage to form their corporate structure. Profits must be maximized. Territory, natural resources, institutions, and citizens must be used and then discarded when they are no longer useful…

"Since the end of World War II, corporations have emerged as the dominant force controlling the planet. Through the World Bank, the International Monetary Fund, and the World Trade Organization, a mere 200 corporations have managed to seize control of 28.3% of the world's economic output. The fifty largest commercial banks and diversified financial companies assets amount to 60% of the $20 trillion global stock of productive capital.”

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See also

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Author: John Perkins