Monday, March 1, 2021

Multinational Corporations Are “Quasi-Private” Property

The multinationals are not private companies; they are “quasi-private” companies. They symbolize political power—they are part of the global ruling class. 

I say this for four reasons: first, the multinationals have a turnover higher than the GDP of most small and middle sized countries; second, as they operate in multiple countries, some of which are democracies, while others have a communist system or a Middle East type theocratic system, they tend to develop a globalist worldview which sees no difference between democracy and totalitarianism; third, they are managed by massive bureaucracies which are as secretive, insular, and agenda driven as the bureaucracies in government institutions; fourth, they possess too much political and legal clout, and they often violate the rights of citizens and small businesses. 

In democratic countries, the multinationals lobby for regulation and government intervention. While they posses the legal and political clout to navigate through the regulatory environment, the small and medium sized businesses do not—and when the small and medium sized businesses are decimated, the multinationals gain monopolistic control over the market. I am not saying that the governments should intervene to regulate the operations of the multinationals, because if the politicians and bureaucrats get involved they are certain to further worsen the situation. But a way has to be found to denude the multinationals of their immense political power.

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