Friday, 30 November 2012


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Corporatocracy (pronunciation: /ˌkɔrpərəˈtɒkrəsi/) is a term used to suggest an economic and political system controlled by corporations or corporate interests.[1] It is a generally pejorative term often used by critics of the current economic situation in a particular country, especially the United States.[2][3] The term has been used by liberal and left-leaning critics, but also some economic libertarian critics and other political observers across the political spectrum.[4][5][6][7][8][9][10][11][2] [12][13][14][15][16][17] Economist Jeffrey Sachs described the US as a corporatocracy in his book The Price of Civilization.[18] He suggested that it arose from four trends: weak national parties and strong political representation of individual districts, the large U.S. military establishment after World War II, big corporate money financing election campaigns, and globalization tilting the balance away from workers.[18]
The term was used by author John Perkins in his 2004 book Confessions of an Economic Hit Man, where he described corporatocracy as a collective composed of corporations, banks, and governments.[4]
The concept has been used in explanations of bank bailouts, excessive pay for CEOs, as well as complaints such as the exploitation of national treasuries, people, and natural resources.[19] It has been used by critics of globalization,[20] sometimes in conjunction with criticism of the World Bank[21] or unfair lending practices,[19] as well as criticism of free trade agreements.[20]

[edit] See also

[edit] References

  1. ^ "Corporatocracy". Oxford Dictionaries. Retrieved May 29, 2012. "/ˌkôrpərəˈtäkrəsē/ .... a society or system that is governed or controlled by corporations:"
  2. ^ a b Jamie Reysen (October 4, 2011). "At Boston's Dewey Square, a protest of varied voices". Boston Globe. Retrieved 2012-01-04. "... Corporatocracy is the new Fascism ..."
  3. ^ Will Storey (October 6, 2011). "D.C. Occupied, More or Less". The New York Times. Retrieved 2012-01-04. "... we’ve surrendered our nation to a corporatocracy ..."
  4. ^ a b John Perkins (July 18, 2011). "Economic Chaos, Loans, Greece and Corporatocracy". Huffington Post. Retrieved 2012-01-04. "... bailouts in our own U.S. crisis have only benefited the corporatocracy, with CEO's paying themselves outrageous bonuses. ..."
  5. ^ Linda A. Mooney; David Knox, and Caroline Schacht (2009). Understanding Social Problems. Cengage Lerning. p. 256.
  6. ^ Bruce E. Levine (March 16, 2011). "The Myth of U.S. Democracy and the Reality of U.S. Corporatocracy". Huffington Post. Retrieved 2012-01-10. "Americans are ruled by a corporatocracy: a partnership of "too-big-to-fail" corporations, the extremely wealthy elite, and corporate-collaborator government officials."
  7. ^ David Sirota (November 17, 2010). "The Most Honest -- and Disturbing -- Admission About the Corporatocracy I've Ever Seen". Huffington Post. Retrieved 2012-01-04.
  8. ^ Will Oremus (Oct. 19, 2011). "OWS Protesters May Demand "Robin Hood" Tax: The magazine that sparked the protests calls for a 1-percent levy on financial transactions.". Slate Magazine. Retrieved 2012-01-04.
  9. ^ Scott Manley (March 3, 2011). "Letters to the editor: Union busting". Pittsburgh Post-Gazette. Retrieved 2012-01-04.
  10. ^ Robert Koehler (December 18, 2011). "The language of empire: In official statements and in media reporting, continued war and ongoing American domination are a given". Baltimore Sun. Retrieved 2012-01-04. "... the corporatocracy and its subservient media. ..."
  11. ^ Carl Gibson (November 2, 2011). "The Corporatocracy Is the 1 Percent". Huffington Post. Retrieved 2012-01-04. "Note: spokesman and organizer for US Uncut"
  12. ^ Andy Webster (November 10, 2011). "Yearning to Breathe Free on the Web". The New York Times. Retrieved 2012-01-04.
  13. ^ GrrlScientist (3 November 2011). "GrrlScientist + Cancer". The Guardian. Retrieved 2012-01-04.
  14. ^ Naomi Wolf (5 November 2011). "How to Occupy the moral and political high ground: The worldwide protest can be a critical force for change if it follows some simple rules". The Guardian. Retrieved 2012-01-04. "... one per cent – a corporatocracy that, without transparency or accountability, ..."
  15. ^ Naomi Wolf (2011-11-01). "The people versus the police". China Daily. Retrieved 2012-01-04. "... Their enemy is a global "corporatocracy" that has purchased governments and legislatures ..."
  16. ^ Anita Simons (October 24, 2011). "Occupy Wall Street will go down in history". Maui News. Retrieved 2012-01-04. "... we all have different personal objectives, such as ending corporatocracy, ..."
  17. ^ Katy Steinmetz (November 9, 2011). "Wednesday Words: Herman’s ‘Cain-Wreck,’ Male Cleavage and More". Time Magazine. Retrieved 2012-01-04. "...Occupy vocab: corporatocracy. ..."
  18. ^ a b Sachs, Jeffrey (2011). The Price of Civilization. New York: Random House. pp. 105, 106, 107. ISBN 978-1-4000-6841-8.
  19. ^ a b John Perkins (March 2, 2011). "Ecuador: Another Victory for the People". Huffington Post. Retrieved 2012-01-04.
  20. ^ a b Roman Haluszka (Nov 12 2011). "Understanding Occupy’s message". Toronto Star. Retrieved 2012-01-04.
  21. ^ Andy Webster (August 14, 2008). "Thoughts on a ‘Corporatocracy’". The New York Times. Retrieved 2012-01-04.

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