the capitalist network that runs the world - physics-math - 19 October 2011 AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy. The study's assumptions have attracted some criticism, but complex systems analysts contacted by New Scientist say it is a unique effort to untangle control in the global economy. The idea that a few bankers control a large chunk of the global economy might not seem like news to New York's Occupy Wall Street movement and protesters elsewhere (see photo). "Reality is so complex, we must move away from dogma, whether it's conspiracy theories or free-market," says James Glattfelder. The Zurich team can. The work, to be published in PLoS One, revealed a core of 1318 companies with interlocking ownerships (see image). So, the super-entity may not result from conspiracy. 1.
Entrepreneurs, Chance, and the Deterministic Concentration of Wealth Citation: Fargione JE, Lehman C, Polasky S (2011) Entrepreneurs, Chance, and the Deterministic Concentration of Wealth. PLoS ONE 6(7): e20728. doi:10.1371/journal.pone.0020728 Editor: Pieter H. M. van Baal, Erasmus University Rotterdam, The Netherlands Received: September 10, 2010; Accepted: May 11, 2011; Published: July 21, 2011 Copyright: © 2011 Fargione et al. Funding: This study was supported by the University of Minnesota. Competing interests: The authors have declared that no competing interests exist. Results This simple model demonstrates that, with passing time, the proportion of wealth held by an arbitrarily small fraction of entrepreneurs asymptotically approaches 1–that is, a small proportion of entrepreneurs come to possess essentially all of the wealth. , the factor by which entrepreneur 's capital increases in time period is . as of period , where . are drawn from a normal distribution with mean and variance . determines which top proportion is captured (e.g. 1%, 10%, etc.). . . .
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Retort: The 147 Companies That Run The World? They're You. Fascinating post by colleague Bruce Upbin on the dominant ownership position of the “147 companies that control everything.” But I think there is basic flaw in the thinking of the underlying study, which as Bruce notes comes from three systems theorists at the Swiss Federal Institute of Technology in Zurich, and which was picked up by the magazine New Scientist. So, here’s the issue. Most of the companies on the top 50 list are simply investment companies – they aren’t operating companies. Consider a few tidbits: According to the Investment Company Institute, a trade group for the mutual funds industry, as of the end of August, mutual funds held $11.6 trillion in assets. And wait, a few more stats: 51.6 million U.S. households own mutual funds; they are held by 90.2 million individuals. 44% of U.S. households are fund investors.
System effects of bank crisis underestimated The system effects resulting from banks’ behaviour during the credit crisis are much greater than expected. The financial world has underestimated the risk to the system of these effects, which are also known as second-round effects. Economist Jan Willem van den End came to this conclusion in PhD research which investigated how banks and governments acted during the crisis. The behaviour of banks and bankers is a hot topic, in the most recent financial crisis too. Herd behaviour Jan Willem van den End investigated at microlevel how bankers dealt with the credit and liquidity risks in 2008. Models Theories abound on interaction in the financial world, as well as models for many of its subfields, but it is well-nigh impossible to capture all these complex relationships in a single model. Buffer Van den End’s findings have convinced him of the necessity for stringent rules for the capital and liquidity buffers banks are required to maintain, as set out in the Basel III Accord. Contact
GeorgT Die meiner Meinung nach bestmoegliche Zusammenfassung der Einsichten, die sich aus der Theorie komplexer Systeme ergeben, habe ich bei Sergio Benvenuto gefunden. "Stable order is always provisional and threatened by complexity. We should finally start thinking that we all live on the edge of chaos. Sergio Benvenuto These 6 Corporations Control 90% Of The Media In America scienceguide: Systeemeffecten bankencrisis onderschat 20 oktober 2011 - De financiële wereld heeft de systeemeffecten als gevolg van het gedrag van de banken onderschat. Deze waren veel groter dan verwacht. Dat blijkt uit onderzoek van RUG-econoom Jan Willem van den End die op 27 oktober promoveert. De zogeheten tweede ronde-effecten zijn door de financiële wereld niet op waarde geschat, stelt Van den End die werkzaam is als senior econoom bij De Nederlandsche Bank. In zijn proefschrift 'Credit and liquidity risk of banks in stress conditions. Het gedrag van de banken en bankiers staat, ook in de huidige financiële crisis, in het brandpunt van de belangstelling. Bankiers liepen achter elkaar aan Jan Willem van den End onderzocht op microniveau hoe de bankiers in 2008 omgingen met de krediet- en liquiditeitsrisico's van toen. "De hele financiële wereld heeft onderschat hoe groot het negatieve effect was van de manier waarop de banken op het begin van de crisis reageerden. Uiteindelijke gedrag is onvoorspelbaar Strengere regelgeving
Consideo GmbH, Strategy Development and Problem Solving “There is nothing we can do” – Meadows | Damn the Matrix FORMAT interviews Dennis Meadows, author of “The Limits to Growth”, about the shocking position of the planet. 40 years ago, Dennis Meadows presented the best seller “The Limits to Growth”. In it, he predicted, not the exact date of the apocalypse, but the U.S. researchers showed by means of computational models, that by mid-century, the resources of planet Earth will be depleted. The book sold 30 million copies and Meadows is now regarded as the most famous “Sunset prophet” of the world. FORMAT’s writer Rainer Himmelfreundpointner met Meadows on a visit to Vienna for an exclusive interview. The message of the nearly 70-year-old is now no more optimistic as then, and is not for the faint of heart. FORMAT: Mr. Meadows: What we meant in 1972 in “The Limits to Growth”, and what is still true, is that there is simply no endless physical growth on a finite planet. Meadows: You cannot compare our current situation that way. FORMAT: cancer as a metaphor for uncontrolled growth? Meadows: Yeah.