Are corporations too powerful?
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About the video: ‘Are corporations too powerful?’
John Cavanagh gives examples of ways in which global corporations have set the world’s financial institutions – the IMF, World Bank and WTO (formerly GATT). Oil companies and agribusinesses have used the World Bank and WTO to break into emerging markets. Less developed countries have been seduced by inflated loans and ended up having to liberalize their economies. Corporations help politicians to get elected by funding their campaigns and when elected use their influence to push through favorable legislation. As the major private drivers of global economic activity, their profit-driven power goes largely unchecked.
Total views: 2,917
Filmed: Washington DC, USA on 13 April 2005
Credits: Interviewer - Marcus Morrell Camera and Editor - Marcus Morrell
Copyright © 2005 Big Picture TV
About John Cavanagh
John Cavanagh is the Director of the Institute for Policy Studies in Washington DC (since 1998). Formerly an economist with UNCTAD and the WHO, he co-founded the International Forum on Globalization (IFG) in 1995. He also sits on the executive committees of the US-based Alliance for Responsible Trade and the Citizens’ Trade Campaign and works closely with the Progressive Caucus of the US Congress. He is the co-author of numerous books and articles on globalization, corporate accountability and international labour rights.
His latest book is “Development Redefined: How the Market Met Its Match (International Studies Intensives) ” written together with Robin Broad.
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