A Small Group of Companies Have Enormous Power Over the World
October 31, 2012 | Like this article? Join our email list: Stay up to date with the latest headlines via email. In October of 2011, New Scientist reported that a scientific study on the global financial system was undertaken by three complex systems theorists at the Swiss Federal Institute of Technology in Zurich, Switzerland. The mapping of ‘power’ was through the construction of a model showing which companies controlled which other companies through shareholdings. The top 50 companies on the list of the “super-entity” included (as of 2007): In the United States, five banks control half the economy: JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs Group collectively held $8.5 trillion in assets at the end of 2011, which equals roughly 56% of the U.S. economy.