Jan 8, 2007
Fifteen people tie together the most important corporations in the U.S. by sitting on their boards of directors. The corporations they help to govern include every important aspect of the economy: communication, health care, heavy industry, retail, banking.
Each one of these directors sits on at least three boards, such as IBM, Chevron, ExxonMobil, AT&T, US Steel, Bristol-Myers-Squibb, Allstate Insurance, Halliburton, McDonald’s, Constellation Energy, Pepsi Cola, Goldman Sachs, the New York Stock Exchange, General Electric, etc. In all, these 15 people, themselves often former heads of corporations, bring together 60 of the largest corporations in the U.S.
Corporate competition is supposed to be what makes possible a “free” market and the profit system.
Where is the competition? It’s this small group, representing the whole class of bosses, that makes the decisions for the entire economy.