Capitalism's hidden web of power

• Autores: Jacob Aron
• Localización: New scientist, ISSN 0262-4079, Nº. 3022, 2015, págs. 10-11
• Idioma: inglés
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• Resumen

  • In 2011, New Scientist revealed that 147 interconnected entities--not all of them large financial institutions--control the network of global capitalism. A problem with any of them could have a significant effect on the system, demonstrating the ongoing potential for vulnerability. Shortly after the New Scientist story was published, the Financial Stability Board, an international body that monitors global finance, published a list of 29 systemically important financial institutions (SIFIs)--which could harm the global economy if they fail. SIFIs are now required to safeguard against collapse by holding significant amounts of their capital as collateral, even though this affects their profitability. Here, Aron analyzes the corporate structure of variety of financial institutions and determines a firm's global importance