http://en.wikipedia.org/wiki/Corporatocracy
Corporatocracy, is a term used as 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] This is different to corporatism, which is the organisation of society into groups with common interests. Economist Jeffrey Sachs described the United States as a corporatocracy in his book The Price of Civilization.[17] [2011] 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.[17]
The term was used by author John Perkins in his 2004 book Confessions of an Economic Hit Man, where he claimed that a “corporatocracy” exists, involving tacitly coordinated corporations, banks, and governments.[18] This collective is known as what author C Wright Mills would call the Power Elite. The Power Elite are wealthy individuals who hold prominent positions in corporatocracies. These individuals control the process of determining society’s economic and political policies.[19]
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.[20] It has been used by critics of globalization,[21] sometimes in conjunction with criticism of the World Bank[22] or unfair lending practices,[20] as well as criticism of free trade agreements.[21]
See also the many “See also”s here, especially “banana republics“.
bshaughnblogs 