Corporate Fascism Threatens Capitalism- 10 biggest corporations make more money than most of world combined

“Their wholehearted support for the US-EU trade deal TTIP, is just the latest example of government help to big business. Disgracefully it also routinely opposes the call of developing countries to hold corporations to account for their human rights impacts at the UN.”

[Editor’s Note: Healthy Capitalist Democracies have checks and balances against monopolies and governments are answerable to the voters who put them in power. The rising global corporate fascist corporatocracy on the other hand, has not only devoured all competition internationally and put small, medium and large private companies out of business, they are also not answerable to any government, do not pay taxes in the country that hosts them and dictate policy to government often suing them through their own secret law courts.  For an in depth analysis of the TPP see: In The Court That Rules The World by Chris Hamby. Here is an extract:

“Imagine a private, global super court that empowers corporations to bend countries to their will.

Say a nation tries to prosecute a corrupt CEO or ban dangerous pollution. Imagine that a company could turn to this super court and sue the whole country for daring to interfere with its profits, demanding hundreds of millions or even billions of dollars as retribution.

Imagine that this court is so powerful that nations often must heed its rulings as if they came from their own supreme courts, with no meaningful way to appeal. That it operates unconstrained by precedent or any significant public oversight, often keeping its proceedings and sometimes even its decisions secret.

That the people who decide its cases are largely elite Western corporate attorneys who have a vested interest in expanding the court’s authority because they profit from it directly, arguing cases one day, and then sitting in judgment another. That some of them half-jokingly refer to themselves as “The Club” or “The Mafia.”

And imagine that the penalties this court has imposed have been so crushing — and its decisions so unpredictable — that some nations dare not risk a trial, responding to the mere threat of a lawsuit by offering vast concessions, such as rolling back their own laws or even wiping away the punishments of convicted criminals.

This system is already in place, operating behind closed doors in office buildings and conference rooms in cities around the world. Known as investor-state dispute settlement, or ISDS, it is written into a vast network of treaties that govern international trade and investment, including NAFTA and the Trans-Pacific Partnership, which Congress must soon decide whether to ratify.”

from RT: 

TPP_ActivistPostttip_3The world’s top ten corporations, including Apple, Shell and Walmart, have a combined revenue that is greater than the combined income of the 180 “poorest” countries out of the world’s total 195 sovereign states.

The figures, which reveal that Walmart, Apple and Shell alone are now richer than Russia, Belgium and Sweden, were released by the campaign group Global Justice Now.

Sixty-nine of the world’s 100 top economic entities are now corporations instead of countries – a rise from last year’s staggering figure of 63. Out of the top 200 entities in the world, a whopping 153 were found to be corporations.

The US, China, Germany, Japan, France and the UK comprise the top six economic entities followed by Italy, Brazil and Canada.

“The vast wealth and power of corporations is at the heart of so many of the world’s problems – like inequality and climate change,” said Nick Dearden, director of Global Justice Now.

“The drive for short-term profits today seems to trump basic human rights for millions of people on the planet. These figures show the problem is getting worse,” he added.

The London-based campaign group released the figures in an effort to put increased pressure on the British government ahead of their working group with the UN.

The meeting, led by Ecuador, was established with the aim of working towards a binding treaty that would ensure “transnational corporations abide by the full range of human rights responsibilities”.

“The UK government has facilitated this rise in corporate power – through tax structures, trade deals and even aid programmes that help big business,” said Dearden.

“Their wholehearted support for the US-EU trade deal TTIP, is just the latest example of government help to big business. Disgracefully it also routinely opposes the call of developing countries to hold corporations to account for their human rights impacts at the UN.”

Read More @ RT.com

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