How Ownership Concentration Is Happening, and Why It Matters
While the globalization that embodied the 1990s liberated multinational corporations, the advent of the Internet economy a decade later boosted corporate concentration further. And the adverse effects this is having on competition, wealth distribution, and fiscal transparency are likely to worsen in the coming years.
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DUBAI – If the global economy were a chess game, few pieces would be left on the board. Most would be relegated to the role of bystanders, observing a concentration of power in the hands of an ever-dwindling number of global players. Now let us imagine that the pieces left standing are corporate entities, with a shrinking number of ultimate owners at the helm. This analogy fundamentally characterizes the global economy today.