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'Corporatocracy'

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'{{Short description|Society controlled by business corporations}} {{about|the idea of government dominated by corporate business interests|the functions and interests of the state in a capitalist society|Capitalist state|capitalist economies dominated by corporations|Corporate capitalism}} {{distinguish |text= [[corporatism]], which is the organization of a society into groups which are determined by their collective common interests}} {{multiple issues|{{cleanup rewrite|date=October 2018}} {{essay-like|date=October 2018}} {{Globalize|article|USA|2name=the United States|date=August 2017}} {{POV|date=July 2023}}}} [[File:American corporate flag.jpg|thumb|Protester holding [[Adbusters]]' Corporate American Flag at [[George W. Bush]]'s [[Second inauguration of George W. Bush|2nd inauguration]], [[Washington, DC]]]] '''Corporatocracy''' ({{IPAc-en|ˌ|k|ɔr|p|ə|r|ə|ˈ|t|ɒ|k|r|ə|s|i}}, from [[corporate]] and {{lang-el|-κρατία|translit=-kratía|lit=domination by}}; short form '''corpocracy'''<ref>https://wordspy.com/index.php?word=corpocracy corpocracy n. A society in which corporations have substantial economic and political power.</ref>) is an economic, political and judicial system controlled by business [[corporation]]s or corporate [[Interest group|interests]].<ref name="oxford dictionary">{{cite news|title= Corporatocracy|newspaper= Oxford Dictionaries|url= http://oxforddictionaries.com/definition/corporatocracy|archive-url= https://web.archive.org/web/20120517021234/http://oxforddictionaries.com/definition/corporatocracy|url-status= dead|archive-date= May 17, 2012|access-date= May 29, 2012}}</ref> The concept has been used in explanations of bank [[bailouts]], excessive pay for [[Chief Executive Officer|CEO]]s, as well as complaints such as the exploitation of national treasuries, people, and natural resources.<ref name="perkins ecuador"/> It has been used by [[critics of globalization]],<ref name="haluszka toronto star">{{cite news |author= Roman Haluszka |title= Understanding Occupy's message |newspaper= Toronto Star |date= Nov 12, 2011 |url= https://www.thestar.com/opinion/letters/article/1085489--understanding-occupy-s-message |access-date= 2012-01-04}}</ref> sometimes in conjunction with [[criticism of the World Bank]]<ref name="webster new york times">{{cite news |author= Andy Webster |title= Thoughts on a 'Corporatocracy' |newspaper=[[The New York Times]]|date= August 14, 2008 |url= https://movies.nytimes.com/2008/08/15/movies/15apol.html |access-date= 2012-01-04}}</ref> or unfair lending practices,<ref name="perkins ecuador">{{cite news |author= John Perkins |title= Ecuador: Another Victory for the People |work= Huffington Post |date= March 2, 2011 |url= https://www.huffingtonpost.com/john-perkins/ecuador-another-victory-f_b_830112.html |access-date= 2012-01-04}}</ref> as well as criticism of [[free trade agreements]].<ref name="haluszka toronto star"/> Corporate rule is also a common theme in [[dystopian]] [[science-fiction]] media. ==Use of "corporatocracy" and similar ideas== Historian [[Howard Zinn]] argues that during the [[Gilded Age]] in the United States, the U.S. government was acting exactly as [[Karl Marx]] described capitalist states: "pretending neutrality to maintain order, but serving the interests of the rich".<ref>{{cite book |last=Zinn |first=Howard |author-link=Howard Zinn |title=A People's History of the United States |location=New York |publisher=Harper Perennial Modern Classics |year=2005 |isbn=978-0-06-083865-2 |page=[https://archive.org/details/peopleshistoryof00zinn_0/page/258 258] |title-link=A People's History of the United States }}</ref> According to economist [[Joseph Stiglitz]], there has been a severe increase in the [[market power]] of corporations, largely due to U.S. [[antitrust]] laws being weakened by [[neoliberal]] reforms, leading to growing [[income inequality in the United States|income inequality]] and a generally underperforming economy.<ref>{{cite news |last= Stiglitz|first=Joseph|date=May 13, 2019 |title=Three decades of neoliberal policies have decimated the middle class, our economy, and our democracy|url=https://www.marketwatch.com/story/three-decades-of-neoliberal-policies-have-decimated-the-middle-class-our-economy-and-our-democracy-2019-05-13|work=[[MarketWatch]]|access-date= August 22, 2019|author-link=Joseph Stiglitz}}</ref> He states that to improve the economy, it is necessary to decrease the influence of money on U.S. politics.<ref>{{cite news |last=Stiglitz|first=Joseph|date=October 23, 2017 |title=America Has a Monopoly Problem—and It's Huge|url=https://www.thenation.com/article/america-has-a-monopoly-problem-and-its-huge/|work=[[The Nation]] |access-date= August 22, 2019|author-link=Joseph Stiglitz}}</ref> In his 1956 book ''[[The Power Elite]]'', sociologist [[C. Wright Mills]] stated that together with the military and political establishment, leaders of the biggest corporations form a "power [[elite]]", which is in control of the U.S.<ref>{{cite book| last = Doob| first = Christopher| title = Social Inequality and Social Stratification | publisher = Pearson | edition = 1st| year = 2013| location = Boston| pages = 143}}</ref> Economist [[Jeffrey Sachs]] described the United States as a corporatocracy in ''[[The Price of Civilization]]'' (2011).<ref name="sachs price of civilization">{{cite book|title=''The Price of Civilization''|last=Sachs|first=Jeffrey|publisher=Random House|year=2011|isbn=978-1-4000-6841-8|location=New York|pages=105, 106, 107}}</ref> He suggested that it arose from four trends: weak [[Political parties in the United States|national parties]] and strong political representation of individual districts, the large U.S. military establishment after [[World War II]], large corporations [[corporate political donations|using money to finance election campaigns]], and [[globalization]] tilting the balance of power away from workers.<ref name="sachs price of civilization" /> In 2013, economist [[Edmund Phelps]] criticized the economic system of the U.S. and other western countries in recent decades as being what he calls "the new [[corporatism]]", which he characterizes as a system in which the state is far too involved in the economy and is tasked with "protecting everyone against everyone else", but at the same time, big companies have a great deal of influence on the government, with lobbyists' suggestions being "welcome, especially if they come with bribes".<ref name="Phelps2013">[[Edmund Phelps|Phelps, Edmund]] (2013). ''Mass Flourishing. How grassroots innovation created jobs, challenge, and change (1st edition)''. Princeton: Princeton University Press. Chapter 6, section 4: ''The New Corporatism''.</ref> ==Corporate influence on politics in the United States== [[File:The Bosses of the Senate by Joseph Keppler.jpg|thumb|240px|''[[The Bosses of the Senate]]'', corporate interests as giant money bags looming over [[United States Senate|senators]]<ref>[[Joseph Ferdinand Keppler|Joseph Keppler]], ''[[Puck (magazine)|Puck]]'' (January 23, 1889)</ref>]] ===Corruption=== During the [[Gilded Age]] in the United States, [[corruption]] was rampant, as business leaders spent significant amounts of money ensuring that government did not regulate their activities.<ref>{{cite book |last1=Tindall |first1=George Brown |last2=Shi |first2=David E. |year=2012 |title=America: A Narrative History |volume=2 |publisher=W. W. Norton |page=578|edition=Brief Ninth }}</ref> ===Corporate influence on legislation=== {{main|Regulatory capture}} Corporations have a significant influence on the regulations and regulators that monitor them. For example, Senator [[Elizabeth Warren]] explained in December 2014 how an omnibus spending bill required to fund the government was modified late in the process to weaken banking regulations. The modification made it easier to allow taxpayer-funded bailouts of banking "swaps entities", which the [[Dodd–Frank Wall Street Reform and Consumer Protection Act|Dodd-Frank]] banking regulations prohibited. She singled out [[Citigroup]], one of the largest banks, which had a role in modifying the legislation. She also explained how both Wall Street bankers and members of the government that formerly had worked on Wall Street stopped bi-partisan legislation that would have broken up the largest banks. She repeated President Theodore Roosevelt's warnings regarding powerful corporate entities that threatened the "very foundations of Democracy".<ref>{{cite AV media|url=https://www.youtube.com/watch?v=DJpTxONxvoo| archive-url=https://ghostarchive.org/varchive/youtube/20211124/DJpTxONxvoo| archive-date=2021-11-24 | url-status=live|title=Remarks by Senator Warren on Citigroup and its bailout provision|date=12 December 2014|work=YouTube|access-date=21 September 2015}}{{cbignore}}</ref> In a 2015 interview, former President [[Jimmy Carter]] stated that the United States is now "an oligarchy with unlimited political bribery" due to the ''[[Citizens United v. FEC]]'' ruling, which effectively removed limits on donations to political candidates.<ref>{{cite magazine|url= https://www.rollingstone.com/politics/politics-news/jimmy-carter-u-s-is-an-oligarchy-with-unlimited-political-bribery-63262/amp/|title=Jimmy Carter: U.S. Is an 'Oligarchy With Unlimited Political Bribery'|last=Kreps|first=Daniel|magazine=Rolling Stone|date=31 July 2015}}</ref> [[Wall Street]] spent a record $2 billion trying to influence the [[2016 United States elections]].<ref>{{cite news |title=Wall Street spends record $2bn on US election lobbying |url=https://www.ft.com/content/5060844a-0420-11e7-ace0-1ce02ef0def9 |work=Financial Times |date=March 8, 2017}}</ref><ref>{{cite news |title=Wall Street Spent $2 Billion Trying to Influence the 2016 Election |url=https://fortune.com/2017/03/08/wall-street-2016-election-spending/ |work=Fortune |date=March 8, 2017}}</ref> [[Joel Bakan]], a [[University of British Columbia]] law professor and the author of the award-winning book ''The Corporation: The Pathological Pursuit of Profit and Power'', writes: {{Blockquote|The Law forbids any motivation for their actions, whether to assist workers, improve the environment, or help consumers save money. They can do these things with their own money, as private citizens. As corporate officials, however, stewards of other people’s money, they have no legal authority to pursue such goals as ends in themselves – only as means to serve the corporations own interests, which generally means to maximise the wealth of its shareholders. Corporate social responsibility is thus illegal – at least when its genuine.|Joel Bakan, ''The Corporation: The Pathological Pursuit of Profit and Power'' <ref>Bakan, The Corporation, Constable, 2004, p.37</ref>}} ==Perceived symptoms of corporatocracy in the United States== ===Share of income=== [[File:U.S. Compensation as Percent of GDP - v1.png|right|thumb|400px|From 1970 to 2013, labor's share of GDP has declined, measured based on total compensation as well as salaries and wages. This implies capital's share is increasing.]] With regard to income inequality, the 2014 income analysis of the [[University of California, Berkeley]] economist [[Emmanuel Saez]] confirms that relative growth of income and wealth is not occurring among small and mid-sized entrepreneurs and business owners (who generally populate the lower half of top one per-centers in income),<ref>{{Cite web |url=https://thecfoalliance.org/documents/CFO_Alliance_Executive_Compensation_Survey_Presentation_Final_1_10_2013.pdf |title=The CFO Alliance Executive Compensation Survey 2013 |access-date=2014-11-10 |archive-url=https://web.archive.org/web/20141013144010/https://thecfoalliance.org/documents/CFO_Alliance_Executive_Compensation_Survey_Presentation_Final_1_10_2013.pdf |archive-date=2014-10-13 |url-status=dead }}</ref> but instead only among the top .1 percent of the [[income distribution]], who earn $2,000,000 or more every year.<ref name="gabriel-zucman.eu">[http://gabriel-zucman.eu/files/SaezZucman2014Slides.pdf The Distribution of US Wealth, Capital Income and Returns since 1913, Emmanuel Saez, Gabriel Zucman], March 2014</ref><ref>{{cite web|url=https://www.forbes.com/sites/phildemuth/2013/11/25/are-you-rich-enough-the-terrible-tragedy-of-income-inequality-among-the-1/|title=Are You Rich Enough? The Terrible Tragedy Of Income Inequality Among The 1%|author=Phil DeMuth|work=Forbes|access-date=21 September 2015}}</ref> Corporate power can also increase income inequality. Nobel Prize winner of economics [[Joseph Stiglitz]] wrote in May 2011: "Much of today’s inequality is due to manipulation of the financial system, enabled by changes in the rules that have been bought and paid for by the financial industry itself—one of its best investments ever. The government lent money to financial institutions at close to zero percent interest and provided generous bailouts on favorable terms when all else failed. Regulators turned a blind eye to a lack of transparency and to conflicts of interest." Stiglitz explained that the top 1% got nearly "one-quarter" of the income and own approximately 40% of the wealth.<ref>{{cite magazine|url=https://www.vanityfair.com/society/features/2011/05/top-one-percent-201105|title=Of the 1%, by the 1%, for the 1%|author=Joseph E. Stiglitz|magazine=Vanity Fair|date=31 March 2011|access-date=21 September 2015}}</ref> Measured relative to GDP, total compensation and its component wages and salaries have been declining since 1970. This indicates a shift in income from labor (persons who derive income from hourly wages and salaries) to capital (persons who derive income via ownership of businesses, land, and assets).<ref>{{cite web|url=http://www.voxeu.org/article/monetary-policy-and-long-term-trends|title=Monetary policy and long-term trends|access-date=21 September 2015|date=2014-11-03}}</ref> [[Larry Summers]] estimated in 2007 that the lower 80% of families were receiving $664 billion less income than they would be with a 1979 income distribution, or approximately $7,000 per family.<ref>{{cite web|url=http://larrysummers.com/commentary/financial-times-columns/harness-market-forces-to-share-prosperity-june-24-2007/|title=Harness market forces to share prosperity |author=Larry Summers|access-date=21 September 2015}}</ref> Not receiving this income may have led many families to increase their debt burden, a significant factor in the 2007–2009 [[subprime mortgage crisis]], as highly leveraged homeowners suffered a much larger reduction in their net worth during the crisis. Further, since lower income families tend to spend relatively more of their income than higher income families, shifting more of the income to wealthier families may slow economic growth.<ref name="Mian and Sufi2014">{{cite book | last1 = Mian | last2 = Sufi | first1 = Atif | first2 = Amir | year = 2014 | title = House of Debt | publisher = University of Chicago | isbn = 978-0-226-08194-6| title-link = House of Debt}}</ref>{{specify|date=April 2020}} ===Effective corporate tax rates=== [[File:U.S. Federal Corporate Income Tax Receipts and Pre-Tax Profits.png|thumb|right|400px|U.S. corporate effective tax rates have fallen significantly since the year 2000.]] Some large U.S. corporations have used a strategy called [[tax inversion]] to change their headquarters to a non-U.S. country to reduce their tax liability. About 46 companies have reincorporated in low-tax countries since 1982, including 15 since 2012. Six more also planned to do so in 2015.<ref>{{cite web|url=https://www.bloomberg.com/quicktake/tax-inversion|title=Tax inversion|last=Mider|first=Zachary|website=[[Bloomberg News]]|date=2017|access-date=21 September 2015}}</ref> ===Stock buybacks versus wage increases=== One indication of increasing corporate power was the removal of restrictions on their ability to buy back stock, contributing to increased income inequality. Writing in the ''[[Harvard Business Review]]'' in September 2014, William Lazonick blamed record corporate [[share repurchase|stock buybacks]] for reduced investment in the economy and a corresponding impact on prosperity and income inequality. Between 2003 and 2012, the 449 companies in the S&P 500 used 54% of their earnings ($2.4 trillion) to buy back their own stock. An additional 37% was paid to stockholders as dividends. Together, these were 91% of profits. This left little for investment in productive capabilities or higher income for employees, shifting more income to capital rather than labor. He blamed executive compensation arrangements, which are heavily based on stock options, stock awards, and bonuses, for meeting earnings per share (EPS) targets. EPS increases as the number of outstanding shares decreases. Legal restrictions on buybacks were greatly eased in the early 1980s. He advocates changing these incentives to limit buybacks.<ref>{{cite journal|url=https://hbr.org/2014/09/profits-without-prosperity/ar/1|title=Profits Without Prosperity|journal=Harvard Business Review|access-date=21 September 2015|date=September 2014|last1=Lazonick|first1=William}}</ref><ref>{{cite news|url=https://www.washingtonpost.com/opinions/harold-meyerson-in-corporations-its-owner-take-all/2014/08/26/0c1a002a-2ca7-11e4-bb9b-997ae96fad33_story.html|title=In corporations, it's owner-take-all|author=Harold Meyerson|date=26 August 2014|newspaper=Washington Post|access-date=21 September 2015}}</ref> In the 12 months to March 31, 2014, S&P 500 companies increased their stock buyback payouts by 29% year on year, to $534.9 billion.<ref>{{cite news|url=http://www.ft.com/intl/cms/s/0/ef626fc4-f6f7-11e3-b271-00144feabdc0.html#axzz3IVLb48yU|title=US share buybacks and dividends hit record|work=Financial Times|date=18 June 2014|access-date=21 September 2015|last1=Bullock|first1=Nicole}}</ref> U.S. companies are projected to increase buybacks to $701 billion in 2015, according to Goldman Sachs, an 18% increase over 2014. For scale, annual non-residential fixed investment (a proxy for business investment and a major GDP component) was estimated to be about $2.1 trillion for 2014.<ref>{{Cite web |url=https://www.bea.gov/newsreleases/national/gdp/2014/txt/gdp3q14_adv.txt |title=BEA-GDP Press Release-Q3 2014 Advance Estimate-October 30, 2014 |access-date=March 9, 2018 |archive-url=https://web.archive.org/web/20170608092235/https://www.bea.gov/newsreleases/national/gdp/2014/txt/gdp3q14_adv.txt |archive-date=June 8, 2017 |url-status=dead }}</ref><ref>{{cite web| url = https://www.cnbc.com/id/102173955#.CNBC-Jeff| title = Cox-Stock Buybacks Expected to Jump 18% in 2015-November 11, 2014| website = [[CNBC]]}}</ref> ===Industry concentration=== {{See also|Too big to fail|Concentration of media ownership}} [[File:5-bank asset concentration for United States.png|thumb|5-bank asset concentration for United States]] Brid Brennan of the Transnational Institute explained how the concentration of corporations increases their influence over government: "It's not just their size, their enormous wealth and assets that make the TNCs [transnational corporations] dangerous to democracy. It's also their concentration, their capacity to influence, and often infiltrate, governments and their ability to act as a genuine international social class in order to defend their commercial interests against the common good. It is such decision-making power as well as the power to impose deregulation over the past 30 years, resulting in changes to national constitutions, and to national and international legislation which has created the environment for corporate crime and impunity." Brennan concludes that this concentration in power leads to again more concentration of income and wealth.<ref>{{cite web|url=http://www.tni.org/article/state-corporate-power|title=The State of Corporate Power|work=Transnational Institute|access-date=21 September 2015|date=2014-01-22}}</ref><ref>{{cite web|url=http://www.tni.org/briefing/state-power-2014|title=State of Power 2014|work=Transnational Institute|access-date=21 September 2015|date=2014-01-21}}</ref> An example of such industry concentration is in banking. The top 5 U.S. banks had approximately 30% of the U.S. banking assets in 1998; this rose to 45% by 2008 and to 48% by 2010, before falling to 47% in 2011.<ref>{{cite web|url=http://research.stlouisfed.org/fred2/series/DDOI06USA156NWDB|title=5-Bank Asset Concentration for United States|access-date=21 September 2015|date=January 1996}}</ref> ''[[The Economist]]'' also explained how an increasingly profitable corporate financial and banking sector caused Gini coefficients to rise in the U.S. since 1980: "Financial services' share of GDP in America, doubled to 8% between 1980 and 2000; over the same period their profits rose from about 10% to 35% of total corporate profits, before collapsing in 2007–09. Bankers are being paid more, too. In America the compensation of workers in financial services was similar to average compensation until 1980. Now it is twice that average."<ref>{{cite news|url=https://www.economist.com/node/17957381|title=Unbottled Gini|newspaper=The Economist|access-date=21 September 2015|date=2011-01-20}}</ref> == See also == {{columns-list|colwidth=22em| * [[Anti-corporate activism]] * [[Banana republic]] * [[Consumerism]] * [[Corporate crime]] * [[Crony capitalism]] * [[Cyberpunk]] * [[Elite theory]] * [[Inverted totalitarianism]] * [[Megacorporation]] * [[Military–industrial complex]] * [[Oligarchy]] * [[Plutocracy]] * [[Regulatory capture]] * [[Socialism for the rich and capitalism for the poor]] }} ;Works * ''[[Jennifer Government]]'' * ''[[The Corporation (2003 film)|The Corporation]]'' (film) * ''[[The Power Elite]]'' (book) * ''[[Zeitgeist: The Movie]]'' == References == {{reflist}} ==Further reading== * {{Cite journal | doi=10.1080/15295036.2011.572680| title=Interrupting the World as It Is: Thinking Amidst the Corporatocracy and in the Wake of Tunisia, Egypt, and Wisconsin| year=2011| last1=Deluca| first1=Kevin Michael| s2cid=144609166| journal=Critical Studies in Media Communication| volume=28| issue=2| pages=86–93|url=https://www.academia.edu/11323162}} * Shatalova, Yaroslavna Oleksandrivna. "Corporatocracy Concept In The Scope Of A Socio-Philosophical Analysis." ''European Journal of Humanities and Social Sciences'' 6 (2017): 133–137. * {{Cite journal | doi=10.1177/194277860800100113| title=The Rise of Corporatocracy in a Disenchanted Age| year=2008| last1=Shaw| first1=Hillary J.| s2cid=164022397| journal=Human Geography| volume=1| pages=1–11| doi-access=free}} == External links == {{Wikiquote}} * [https://web.archive.org/web/20100621191146/http://www.johnperkins.org/?page_id=9 lecture on Corporatocracy John Perkins lecture on Corporatocracy] * [https://web.archive.org/web/20141017161054/http://citation.allacademic.com/meta/p_mla_apa_research_citation/4/3/6/5/1/p436510_index.html Crimes of Globalization: The Impact of U.S. Corporatocracy in Third World Countries] by John Flores-Hidones {{DEFAULTSORT:Corporatocracy}} [[Category:Corruption]] [[Category:Cyberpunk themes]] [[Category:Economic ideologies]] [[Category:Fiction about corporate warfare|*]] [[Category:Oligarchy]] [[Category:Pejorative terms for forms of government]] [[Category:Political systems]] [[Category:Political theories]]'

'{{Short description|Society controlled by business corporations}} {{about|the idea of government dominated by corporate business interests|the functions and interests of the state in a capitalist society|Capitalist state|capitalist economies dominated by corporations|Corporate capitalism}} {{distinguish |text= [[corporatism]], which is the organization of a society into groups which are determined by their collective common interests}} {{multiple issues|{{cleanup rewrite|date=October 2018}} {{essay-like|date=October 2018}} {{Globalize|article|USA|2name=the United States|date=August 2017}} {{POV|date=July 2023}}}} [[File:American corporate flag.jpg|thumb|Protester holding [[Adbusters]]' Corporate American Flag at [[George W. Bush]]'s [[Second inauguration of George W. Bush|2nd inauguration]], [[Washington, DC]]]] '''Corporatocracy''' ({{IPAc-en|ˌ|k|ɔr|p|ə|r|ə|ˈ|t|ɒ|k|r|ə|s|i}}, from [[corporate]] and {{lang-el|-κρατία|translit=-kratía|lit=domination by}}; short form '''corpocracy'''<ref>https://wordspy.com/index.php?word=corpocracy corpocracy n. A society in which corporations have substantial economic and political power.</ref>) is an economic, political and judicial system controlled by business [[corporation]]s or corporate [[Interest group|interests]].<ref name="oxford dictionary">{{cite news|title= Corporatocracy|newspaper= Oxford Dictionaries|url= http://oxforddictionaries.com/definition/corporatocracy|archive-url= https://web.archive.org/web/20120517021234/http://oxforddictionaries.com/definition/corporatocracy|url-status= dead|archive-date= May 17, 2012|access-date= May 29, 2012}}</ref> The concept has been used in explanations of bank [[bailouts]], excessive pay for [[Chief Executive Officer|CEO]]s, as well as complaints such as the exploitation of national treasuries, people, and natural resources.<ref name="perkins ecuador"/> It has been used by [[critics of globalization]],<ref name="haluszka toronto star">{{cite news |author= Roman Haluszka |title= Understanding Occupy's message |newspaper= Toronto Star |date= Nov 12, 2011 |url= https://www.thestar.com/opinion/letters/article/1085489--understanding-occupy-s-message |access-date= 2012-01-04}}</ref> sometimes in conjunction with [[criticism of the World Bank]]<ref name="webster new york times">{{cite news |author= Andy Webster |title= Thoughts on a 'Corporatocracy' |newspaper=[[The New York Times]]|date= August 14, 2008 |url= https://movies.nytimes.com/2008/08/15/movies/15apol.html |access-date= 2012-01-04}}</ref> or unfair lending practices,<ref name="perkins ecuador">{{cite news |author= John Perkins |title= Ecuador: Another Victory for the People |work= Huffington Post |date= March 2, 2011 |url= https://www.huffingtonpost.com/john-perkins/ecuador-another-victory-f_b_830112.html |access-date= 2012-01-04}}</ref> as well as criticism of [[free trade agreements]].<ref name="haluszka toronto star"/> Corporate rule is also a common theme in [[dystopian]] [[science-fiction]] media. ==Use of "corporatocracy" and similar ideas== Historian [[Howard Zinn]] argues that during the [[Gilded Age]] in the United States, the U.S. government was acting exactly as [[Karl Marx]] described capitalist states: "pretending neutrality to maintain order, but serving the interests of the rich".<ref>{{cite book |last=Zinn |first=Howard |author-link=Howard Zinn |title=A People's History of the United States |location=New York |publisher=Harper Perennial Modern Classics |year=2005 |isbn=978-0-06-083865-2 |page=[https://archive.org/details/peopleshistoryof00zinn_0/page/258 258] |title-link=A People's History of the United States }}</ref> According to economist [[Joseph Stiglitz]], there has been a severe increase in the [[market power]] of corporations, largely due to U.S. [[antitrust]] laws being weakened by [[neoliberal]] reforms, leading to growing [[income inequality in the United States|income inequality]] and a generally underperforming economy.<ref>{{cite news |last= Stiglitz|first=Joseph|date=May 13, 2019 |title=Three decades of neoliberal policies have decimated the middle class, our economy, and our democracy|url=https://www.marketwatch.com/story/three-decades-of-neoliberal-policies-have-decimated-the-middle-class-our-economy-and-our-democracy-2019-05-13|work=[[MarketWatch]]|access-date= August 22, 2019|author-link=Joseph Stiglitz}}</ref> He states that to improve the economy, it is necessary to decrease the influence of money on U.S. politics.<ref>{{cite news |last=Stiglitz|first=Joseph|date=October 23, 2017 |title=America Has a Monopoly Problem—and It's Huge|url=https://www.thenation.com/article/america-has-a-monopoly-problem-and-its-huge/|work=[[The Nation]] |access-date= August 22, 2019|author-link=Joseph Stiglitz}}</ref> In his 1956 book ''[[The Power Elite]]'', sociologist [[C. Wright Mills]] stated that together with the military and political establishment, leaders of the biggest corporations form a "power [[elite]]", which is in control of the U.S.<ref>{{cite book| last = Doob| first = Christopher| title = Social Inequality and Social Stratification | publisher = Pearson | edition = 1st| year = 2013| location = Boston| pages = 143}}</ref> Economist [[Jeffrey Sachs]] described the United States as a corporatocracy in ''[[The Price of Civilization]]'' (2011).<ref name="sachs price of civilization">{{cite book|title=''The Price of Civilization''|last=Sachs|first=Jeffrey|publisher=Random House|year=2011|isbn=978-1-4000-6841-8|location=New York|pages=105, 106, 107}}</ref> He suggested that it arose from four trends: weak [[Political parties in the United States|national parties]] and strong political representation of individual districts, the large U.S. military establishment after [[World War II]], large corporations [[corporate political donations|using money to finance election campaigns]], and [[globalization]] tilting the balance of power away from workers.<ref name="sachs price of civilization" /> In 2013, economist [[Edmund Phelps]] criticized the economic system of the U.S. and other western countries in recent decades as being what he calls "the new [[corporatism]]", which he characterizes as a system in which the state is far too involved in the economy and is tasked with "protecting everyone against everyone else", but at the same time, big companies have a great deal of influence on the government, with lobbyists' suggestions being "welcome, especially if they come with bribes".<ref name="Phelps2013">[[Edmund Phelps|Phelps, Edmund]] (2013). ''Mass Flourishing. How grassroots innovation created jobs, challenge, and change (1st edition)''. Princeton: Princeton University Press. Chapter 6, section 4: ''The New Corporatism''.</ref> ==Corporate influence on politics in the United States== [[File:The Bosses of the Senate by Joseph Keppler.jpg|thumb|240px|''[[The Bosses of the Senate]]'', corporate interests as giant money bags looming over [[United States Senate|senators]]<ref>[[Joseph Ferdinand Keppler|Joseph Keppler]], ''[[Puck (magazine)|Puck]]'' (January 23, 1889)</ref>]] ===Corruption=== During the [[Gilded Age]] in the United States, [[corruption]] was rampant, as business leaders spent significant amounts of money ensuring that government did not regulate their activities.<ref>{{cite book |last1=Tindall |first1=George Brown |last2=Shi |first2=David E. |year=2012 |title=America: A Narrative History |volume=2 |publisher=W. W. Norton |page=578|edition=Brief Ninth }}</ref> ===Corporate influence on legislation=== {{main|Regulatory capture}} Corporations have a significant influence on the regulations and regulators that monitor them. For example, Senator [[Elizabeth Warren]] explained in December 2014 how an omnibus spending bill required to fund the government was modified late in the process to weaken banking regulations. The modification made it easier to allow taxpayer-funded bailouts of banking "swaps entities", which the [[Dodd–Frank Wall Street Reform and Consumer Protection Act|Dodd-Frank]] banking regulations prohibited. She singled out [[Citigroup]], one of the largest banks, which had a role in modifying the legislation. She also explained how both Wall Street bankers and members of the government that formerly had worked on Wall Street stopped bi-partisan legislation that would have broken up the largest banks. She repeated President Theodore Roosevelt's warnings regarding powerful corporate entities that threatened the "very foundations of Democracy".<ref>{{cite AV media|url=https://www.youtube.com/watch?v=DJpTxONxvoo| archive-url=https://ghostarchive.org/varchive/youtube/20211124/DJpTxONxvoo| archive-date=2021-11-24 | url-status=live|title=Remarks by Senator Warren on Citigroup and its bailout provision|date=12 December 2014|work=YouTube|access-date=21 September 2015}}{{cbignore}}</ref> In a 2015 interview, former President [[Jimmy Carter]] stated that the United States is now "an oligarchy with unlimited political bribery" due to the ''[[Citizens United v. FEC]]'' ruling, which effectively removed limits on donations to political candidates.<ref>{{cite magazine|url= https://www.rollingstone.com/politics/politics-news/jimmy-carter-u-s-is-an-oligarchy-with-unlimited-political-bribery-63262/amp/|title=Jimmy Carter: U.S. Is an 'Oligarchy With Unlimited Political Bribery'|last=Kreps|first=Daniel|magazine=Rolling Stone|date=31 July 2015}}</ref> [[Wall Street]] spent a record $2 billion trying to influence the [[2016 United States elections]].<ref>{{cite news |title=Wall Street spends record $2bn on US election lobbying |url=https://www.ft.com/content/5060844a-0420-11e7-ace0-1ce02ef0def9 |work=Financial Times |date=March 8, 2017}}</ref><ref>{{cite news |title=Wall Street Spent $2 Billion Trying to Influence the 2016 Election |url=https://fortune.com/2017/03/08/wall-street-2016-election-spending/ |work=Fortune |date=March 8, 2017}}</ref> [[Joel Bakan]], a [[University of British Columbia]] law professor and the author of the award-winning book ''The Corporation: The Pathological Pursuit of Profit and Power'', writes: {{Blockquote|The Law forbids any motivation for their actions, whether to assist workers, improve the environment, or help consumers save money. They can do these things with their own money, as private citizens. As corporate officials, however, stewards of other people’s money, they have no legal authority to pursue such goals as ends in themselves – only as means to serve the corporations own interests, which generally means to maximise the wealth of its shareholders. Corporate social responsibility is thus illegal – at least when its genuine.|Joel Bakan, ''The Corporation: The Pathological Pursuit of Profit and Power'' <ref>Bakan, The Corporation, Constable, 2004, p.37</ref>}} ==Perceived symptoms of corporatocracy in the United States== ===Share of income=== [[File:U.S. Compensation as Percent of GDP - v1.png|right|thumb|400px|From 1970 to 2013, labor's share of GDP has declined, measured based on total compensation as well as salaries and wages. This implies capital's share is increasing.]] With regard to income inequality, the 2014 income analysis of the [[University of California, Berkeley]] economist [[Emmanuel Saez]] confirms that relative growth of income and wealth is not occurring among small and mid-sized entrepreneurs and business owners (who generally populate the lower half of top one per-centers in income),<ref>{{Cite web |url=https://thecfoalliance.org/documents/CFO_Alliance_Executive_Compensation_Survey_Presentation_Final_1_10_2013.pdf |title=The CFO Alliance Executive Compensation Survey 2013 |access-date=2014-11-10 |archive-url=https://web.archive.org/web/20141013144010/https://thecfoalliance.org/documents/CFO_Alliance_Executive_Compensation_Survey_Presentation_Final_1_10_2013.pdf |archive-date=2014-10-13 |url-status=dead }}</ref> but instead only among the top .1 percent of the [[income distribution]], who earn $2,000,000 or more every year.<ref name="gabriel-zucman.eu">[http://gabriel-zucman.eu/files/SaezZucman2014Slides.pdf The Distribution of US Wealth, Capital Income and Returns since 1913, Emmanuel Saez, Gabriel Zucman], March 2014</ref><ref>{{cite web|url=https://www.forbes.com/sites/phildemuth/2013/11/25/are-you-rich-enough-the-terrible-tragedy-of-income-inequality-among-the-1/|title=Are You Rich Enough? The Terrible Tragedy Of Income Inequality Among The 1%|author=Phil DeMuth|work=Forbes|access-date=21 September 2015}}</ref> Corporate power can also increase income inequality. Nobel Prize winner of economics [[Joseph Stiglitz]] wrote in May 2011: "Much of today’s inequality is due to manipulation of the financial system, enabled by changes in the rules that have been bought and paid for by the financial industry itself—one of its best investments ever. The government lent money to financial institutions at close to zero percent interest and provided generous bailouts on favorable terms when all else failed. Regulators turned a blind eye to a lack of transparency and to conflicts of interest." Stiglitz explained that the top 1% got nearly "one-quarter" of the income and own approximately 40% of the wealth.<ref>{{cite magazine|url=https://www.vanityfair.com/society/features/2011/05/top-one-percent-201105|title=Of the 1%, by the 1%, for the 1%|author=Joseph E. Stiglitz|magazine=Vanity Fair|date=31 March 2011|access-date=21 September 2015}}</ref> Measured relative to GDP, total compensation and its component wages and salaries have been declining since 1970. This indicates a shift in income from labor (persons who derive income from hourly wages and salaries) to capital (persons who derive income via ownership of businesses, land, and assets).<ref>{{cite web|url=http://www.voxeu.org/article/monetary-policy-and-long-term-trends|title=Monetary policy and long-term trends|access-date=21 September 2015|date=2014-11-03}}</ref> [[Larry Summers]] estimated in 2007 that the lower 80% of families were receiving $664 billion less income than they would be with a 1979 income distribution, or approximately $7,000 per family.<ref>{{cite web|url=http://larrysummers.com/commentary/financial-times-columns/harness-market-forces-to-share-prosperity-june-24-2007/|title=Harness market forces to share prosperity |author=Larry Summers|access-date=21 September 2015}}</ref> Not receiving this income may have led many families to increase their debt burden, a significant factor in the 2007–2009 [[subprime mortgage crisis]], as highly leveraged homeowners suffered a much larger reduction in their net worth during the crisis. Further, since lower income families tend to spend relatively more of their income than higher income families, shifting more of the income to wealthier families may slow economic growth.<ref name="Mian and Sufi2014">{{cite book | last1 = Mian | last2 = Sufi | first1 = Atif | first2 = Amir | year = 2014 | title = House of Debt | publisher = University of Chicago | isbn = 978-0-226-08194-6| title-link = House of Debt}}</ref>{{specify|date=April 2020}} ===Effective corporate tax rates=== [[File:U.S. Federal Corporate Income Tax Receipts and Pre-Tax Profits.png|thumb|right|400px|U.S. corporate effective tax rates have fallen significantly since the year 2000.]] Some large U.S. corporations have used a strategy called [[tax inversion]] to change their headquarters to a non-U.S. country to reduce their tax liability. About 46 companies have reincorporated in low-tax countries since 1982, including 15 since 2012. Six more also planned to do so in 2015.<ref>{{cite web|url=https://www.bloomberg.com/quicktake/tax-inversion|title=Tax inversion|last=Mider|first=Zachary|website=[[Bloomberg News]]|date=2017|access-date=21 September 2015}}</ref> ===Stock buybacks versus wage increases=== One indication of increasing corporate power was the removal of restrictions on their ability to buy back stock, contributing to increased income inequality. Writing in the ''[[Harvard Business Review]]'' in September 2014, William Lazonick blamed record corporate [[share repurchase|stock buybacks]] for reduced investment in the economy and a corresponding impact on prosperity and income inequality. Between 2003 and 2012, the 449 companies in the S&P 500 used 54% of their earnings ($2.4 trillion) to buy back their own stock. An additional 37% was paid to stockholders as dividends. Together, these were 91% of profits. This left little for investment in productive capabilities or higher income for employees, shifting more income to capital rather than labor. He blamed executive compensation arrangements, which are heavily based on stock options, stock awards, and bonuses, for meeting earnings per share (EPS) targets. EPS increases as the number of outstanding shares decreases. Legal restrictions on buybacks were greatly eased in the early 1980s. He advocates changing these incentives to limit buybacks.<ref>{{cite journal|url=https://hbr.org/2014/09/profits-without-prosperity/ar/1|title=Profits Without Prosperity|journal=Harvard Business Review|access-date=21 September 2015|date=September 2014|last1=Lazonick|first1=William}}</ref><ref>{{cite news|url=https://www.washingtonpost.com/opinions/harold-meyerson-in-corporations-its-owner-take-all/2014/08/26/0c1a002a-2ca7-11e4-bb9b-997ae96fad33_story.html|title=In corporations, it's owner-take-all|author=Harold Meyerson|date=26 August 2014|newspaper=Washington Post|access-date=21 September 2015}}</ref> In the 12 months to March 31, 2014, S&P 500 companies increased their stock buyback payouts by 29% year on year, to $534.9 billion.<ref>{{cite news|url=http://www.ft.com/intl/cms/s/0/ef626fc4-f6f7-11e3-b271-00144feabdc0.html#axzz3IVLb48yU|title=US share buybacks and dividends hit record|work=Financial Times|date=18 June 2014|access-date=21 September 2015|last1=Bullock|first1=Nicole}}</ref> U.S. companies are projected to increase buybacks to $701 billion in 2015, according to Goldman Sachs, an 18% increase over 2014. For scale, annual non-residential fixed investment (a proxy for business investment and a major GDP component) was estimated to be about $2.1 trillion for 2014.<ref>{{Cite web |url=https://www.bea.gov/newsreleases/national/gdp/2014/txt/gdp3q14_adv.txt |title=BEA-GDP Press Release-Q3 2014 Advance Estimate-October 30, 2014 |access-date=March 9, 2018 |archive-url=https://web.archive.org/web/20170608092235/https://www.bea.gov/newsreleases/national/gdp/2014/txt/gdp3q14_adv.txt |archive-date=June 8, 2017 |url-status=dead }}</ref><ref>{{cite web| url = https://www.cnbc.com/id/102173955#.CNBC-Jeff| title = Cox-Stock Buybacks Expected to Jump 18% in 2015-November 11, 2014| website = [[CNBC]]}}</ref> ===Industry concentration=== {{See also|Too big to fail|Concentration of media ownership}} [[File:5-bank asset concentration for United States.png|thumb|5-bank asset concentration for United States]] Brid Brennan of the Transnational Institute explained how the concentration of corporations increases their influence over government: "It's not just their size, their enormous wealth and assets that make the TNCs [transnational corporations] dangerous to democracy. It's also their concentration, their capacity to influence, and often infiltrate, governments and their ability to act as a genuine international social class in order to defend their commercial interests against the common good. It is such decision-making power as well as the power to impose deregulation over the past 30 years, resulting in changes to national constitutions, and to national and international legislation which has created the environment for corporate crime and impunity." Brennan concludes that this concentration in power leads to again more concentration of income and wealth.<ref>{{cite web|url=http://www.tni.org/article/state-corporate-power|title=The State of Corporate Power|work=Transnational Institute|access-date=21 September 2015|date=2014-01-22}}</ref><ref>{{cite web|url=http://www.tni.org/briefing/state-power-2014|title=State of Power 2014|work=Transnational Institute|access-date=21 September 2015|date=2014-01-21}}</ref> An example of such industry concentration is in banking. The top 5 U.S. banks had approximately 30% of the U.S. banking assets in 1998; this rose to 45% by 2008 and to 48% by 2010, before falling to 47% in 2011.<ref>{{cite web|url=http://research.stlouisfed.org/fred2/series/DDOI06USA156NWDB|title=5-Bank Asset Concentration for United States|access-date=21 September 2015|date=January 1996}}</ref> ''[[The Economist]]'' also explained how an increasingly profitable corporate financial and banking sector caused Gini coefficients to rise in the U.S. since 1980: "Financial services' share of GDP in America, doubled to 8% between 1980 and 2000; over the same period their profits rose from about 10% to 35% of total corporate profits, before collapsing in 2007–09. Bankers are being paid more, too. In America the compensation of workers in financial services was similar to average compensation until 1980. Now it is twice that average."<ref>{{cite news|url=https://www.economist.com/node/17957381|title=Unbottled Gini|newspaper=The Economist|access-date=21 September 2015|date=2011-01-20}}</ref> === Mass incarceration === Several scholars have linked [[Incarceration in the United States|mass incarceration of the poor in the United States]] with the rise of neoliberalism.{{sfnp|Haymes|Vidal de Haymes|Miller|2015|pp=3, 346}}<ref>{{cite journal |last=Aviram |first=Hadar |date=September 7, 2014 |title=Are Private Prisons to Blame for Mass Incarceration and its Evils? Prison Conditions, Neoliberalism, and Public Choice |url=https://ir.lawnet.fordham.edu/ulj/vol42/iss2/2/ |journal=[[Fordham Urban Law Journal]] |publisher=[[Fordham University School of Law]] |ssrn=2492782 |access-date=December 27, 2014}}</ref>{{sfnp|Gerstle|2022|pp=130–132}}<ref>{{cite book |last=Gottschalk |first=Marie |url=http://press.princeton.edu/titles/10731.html |title=Caught: The Prison State and the Lockdown of American Politics |date=2014 |publisher=[[Princeton University Press]] |isbn=978-0691164052 |page=[https://books.google.com/books?id=CzDFCgAAQBAJ&pg=PA10 10] |author-link=Marie Gottschalk}}</ref> Sociologist Loïc Wacquant and [[Marxist]] economic geographer [[David Harvey]] have argued that the criminalization of poverty and mass incarceration is a neoliberal policy for dealing with social instability among economically marginalized populations.{{sfnp|Wacquant|2009|pp=125–126, 312}}{{sfnp|Harvey|2005|p=}} According to Wacquant, this situation follows the implementation of other neoliberal policies, which have allowed for the retrenchment of the social [[welfare state]] and the rise of punitive [[workfare]], whilst increasing [[gentrification]] of urban areas, [[privatization]] of public functions, the shrinking of collective protections for the working class via economic [[deregulation]] and the rise of underpaid, [[Precarity|precarious wage labor]].{{sfnp|Wacquant|2009|pp=53–54}}<ref>{{cite web |last=Shaw |first=Devin Z. |date=September 29, 2010 |title=Loïc Wacquant: "Prisons of Poverty" |url=http://notes-taken.blogspot.com/2010/09/loic-wacquant-prisons-of-poverty.html |website=The Notes Taken}}</ref> By contrast, it is extremely lenient in dealing with those in the upper echelons of society, in particular when it comes to economic crimes of the [[upper class]] and corporations such as [[fraud]], [[embezzlement]], [[insider trading]], credit and [[insurance fraud]], [[money laundering]] and violation of commerce and labor codes.{{sfnp|Wacquant|2009|pp=125–126, 312}}<ref>{{cite web |last=Wacquant |first=Loïc |author-link=Loïc Wacquant |date=August 1, 2011 |title=The punitive regulation of poverty in the neoliberal age |url=http://www.opendemocracy.net/5050/lo%C3%AFc-wacquant/punitive-regulation-of-poverty-in-neoliberal-age |url-status=dead |archive-url=https://web.archive.org/web/20180925115704/https://www.opendemocracy.net/5050/lo%c3%afc-wacquant/punitive-regulation-of-poverty-in-neoliberal-age |archive-date=September 25, 2018 |access-date=July 17, 2018 |website=[[openDemocracy]]}}</ref> According to Wacquant, neoliberalism does not shrink government, but instead sets up a "centaur state" with little governmental oversight for those at the top and strict control of those at the bottom.{{sfnp|Wacquant|2009|pp=125–126, 312}}<ref>{{cite journal |last1=Mora |first1=Richard |last2=Christianakis |first2=Mary |title=Feeding the School-to-Prison Pipeline: The Convergence of Neoliberalism, Conservativism, and Penal Populism |url=http://cedar.wwu.edu/cgi/viewcontent.cgi?article=1173&context=jec |journal=[[Journal of Educational Controversy]] |publisher=Woodring College of Education, [[Western Washington University]] |access-date=February 23, 2014}}</ref> == See also == {{columns-list|colwidth=22em| * [[Anti-corporate activism]] * [[Banana republic]] * [[Consumerism]] * [[Corporate crime]] * [[Crony capitalism]] * [[Cyberpunk]] * [[Elite theory]] * [[Inverted totalitarianism]] * [[Megacorporation]] * [[Military–industrial complex]] * [[Oligarchy]] * [[Plutocracy]] * [[Regulatory capture]] * [[Socialism for the rich and capitalism for the poor]] }} ;Works * ''[[Jennifer Government]]'' * ''[[The Corporation (2003 film)|The Corporation]]'' (film) * ''[[The Power Elite]]'' (book) * ''[[Zeitgeist: The Movie]]'' == References == {{reflist}} ==Further reading== * {{Cite journal | doi=10.1080/15295036.2011.572680| title=Interrupting the World as It Is: Thinking Amidst the Corporatocracy and in the Wake of Tunisia, Egypt, and Wisconsin| year=2011| last1=Deluca| first1=Kevin Michael| s2cid=144609166| journal=Critical Studies in Media Communication| volume=28| issue=2| pages=86–93|url=https://www.academia.edu/11323162}} * Shatalova, Yaroslavna Oleksandrivna. "Corporatocracy Concept In The Scope Of A Socio-Philosophical Analysis." ''European Journal of Humanities and Social Sciences'' 6 (2017): 133–137. * {{Cite journal | doi=10.1177/194277860800100113| title=The Rise of Corporatocracy in a Disenchanted Age| year=2008| last1=Shaw| first1=Hillary J.| s2cid=164022397| journal=Human Geography| volume=1| pages=1–11| doi-access=free}} == External links == {{Wikiquote}} * [https://web.archive.org/web/20100621191146/http://www.johnperkins.org/?page_id=9 lecture on Corporatocracy John Perkins lecture on Corporatocracy] * [https://web.archive.org/web/20141017161054/http://citation.allacademic.com/meta/p_mla_apa_research_citation/4/3/6/5/1/p436510_index.html Crimes of Globalization: The Impact of U.S. Corporatocracy in Third World Countries] by John Flores-Hidones {{DEFAULTSORT:Corporatocracy}} [[Category:Corruption]] [[Category:Cyberpunk themes]] [[Category:Economic ideologies]] [[Category:Fiction about corporate warfare|*]] [[Category:Oligarchy]] [[Category:Pejorative terms for forms of government]] [[Category:Political systems]] [[Category:Political theories]]'

'@@ -70,4 +70,7 @@ ''[[The Economist]]'' also explained how an increasingly profitable corporate financial and banking sector caused Gini coefficients to rise in the U.S. since 1980: "Financial services' share of GDP in America, doubled to 8% between 1980 and 2000; over the same period their profits rose from about 10% to 35% of total corporate profits, before collapsing in 2007–09. Bankers are being paid more, too. In America the compensation of workers in financial services was similar to average compensation until 1980. Now it is twice that average."<ref>{{cite news|url=https://www.economist.com/node/17957381|title=Unbottled Gini|newspaper=The Economist|access-date=21 September 2015|date=2011-01-20}}</ref> + +=== Mass incarceration === +Several scholars have linked [[Incarceration in the United States|mass incarceration of the poor in the United States]] with the rise of neoliberalism.{{sfnp|Haymes|Vidal de Haymes|Miller|2015|pp=3, 346}}<ref>{{cite journal |last=Aviram |first=Hadar |date=September 7, 2014 |title=Are Private Prisons to Blame for Mass Incarceration and its Evils? Prison Conditions, Neoliberalism, and Public Choice |url=https://ir.lawnet.fordham.edu/ulj/vol42/iss2/2/ |journal=[[Fordham Urban Law Journal]] |publisher=[[Fordham University School of Law]] |ssrn=2492782 |access-date=December 27, 2014}}</ref>{{sfnp|Gerstle|2022|pp=130–132}}<ref>{{cite book |last=Gottschalk |first=Marie |url=http://press.princeton.edu/titles/10731.html |title=Caught: The Prison State and the Lockdown of American Politics |date=2014 |publisher=[[Princeton University Press]] |isbn=978-0691164052 |page=[https://books.google.com/books?id=CzDFCgAAQBAJ&pg=PA10 10] |author-link=Marie Gottschalk}}</ref> Sociologist Loïc Wacquant and [[Marxist]] economic geographer [[David Harvey]] have argued that the criminalization of poverty and mass incarceration is a neoliberal policy for dealing with social instability among economically marginalized populations.{{sfnp|Wacquant|2009|pp=125–126, 312}}{{sfnp|Harvey|2005|p=}} According to Wacquant, this situation follows the implementation of other neoliberal policies, which have allowed for the retrenchment of the social [[welfare state]] and the rise of punitive [[workfare]], whilst increasing [[gentrification]] of urban areas, [[privatization]] of public functions, the shrinking of collective protections for the working class via economic [[deregulation]] and the rise of underpaid, [[Precarity|precarious wage labor]].{{sfnp|Wacquant|2009|pp=53–54}}<ref>{{cite web |last=Shaw |first=Devin Z. |date=September 29, 2010 |title=Loïc Wacquant: "Prisons of Poverty" |url=http://notes-taken.blogspot.com/2010/09/loic-wacquant-prisons-of-poverty.html |website=The Notes Taken}}</ref> By contrast, it is extremely lenient in dealing with those in the upper echelons of society, in particular when it comes to economic crimes of the [[upper class]] and corporations such as [[fraud]], [[embezzlement]], [[insider trading]], credit and [[insurance fraud]], [[money laundering]] and violation of commerce and labor codes.{{sfnp|Wacquant|2009|pp=125–126, 312}}<ref>{{cite web |last=Wacquant |first=Loïc |author-link=Loïc Wacquant |date=August 1, 2011 |title=The punitive regulation of poverty in the neoliberal age |url=http://www.opendemocracy.net/5050/lo%C3%AFc-wacquant/punitive-regulation-of-poverty-in-neoliberal-age |url-status=dead |archive-url=https://web.archive.org/web/20180925115704/https://www.opendemocracy.net/5050/lo%c3%afc-wacquant/punitive-regulation-of-poverty-in-neoliberal-age |archive-date=September 25, 2018 |access-date=July 17, 2018 |website=[[openDemocracy]]}}</ref> According to Wacquant, neoliberalism does not shrink government, but instead sets up a "centaur state" with little governmental oversight for those at the top and strict control of those at the bottom.{{sfnp|Wacquant|2009|pp=125–126, 312}}<ref>{{cite journal |last1=Mora |first1=Richard |last2=Christianakis |first2=Mary |title=Feeding the School-to-Prison Pipeline: The Convergence of Neoliberalism, Conservativism, and Penal Populism |url=http://cedar.wwu.edu/cgi/viewcontent.cgi?article=1173&context=jec |journal=[[Journal of Educational Controversy]] |publisher=Woodring College of Education, [[Western Washington University]] |access-date=February 23, 2014}}</ref> == See also == '

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[ 0 => '', 1 => '=== Mass incarceration ===', 2 => 'Several scholars have linked [[Incarceration in the United States|mass incarceration of the poor in the United States]] with the rise of neoliberalism.{{sfnp|Haymes|Vidal de Haymes|Miller|2015|pp=3, 346}}<ref>{{cite journal |last=Aviram |first=Hadar |date=September 7, 2014 |title=Are Private Prisons to Blame for Mass Incarceration and its Evils? Prison Conditions, Neoliberalism, and Public Choice |url=https://ir.lawnet.fordham.edu/ulj/vol42/iss2/2/ |journal=[[Fordham Urban Law Journal]] |publisher=[[Fordham University School of Law]] |ssrn=2492782 |access-date=December 27, 2014}}</ref>{{sfnp|Gerstle|2022|pp=130–132}}<ref>{{cite book |last=Gottschalk |first=Marie |url=http://press.princeton.edu/titles/10731.html |title=Caught: The Prison State and the Lockdown of American Politics |date=2014 |publisher=[[Princeton University Press]] |isbn=978-0691164052 |page=[https://books.google.com/books?id=CzDFCgAAQBAJ&pg=PA10 10] |author-link=Marie Gottschalk}}</ref> Sociologist Loïc Wacquant and [[Marxist]] economic geographer [[David Harvey]] have argued that the criminalization of poverty and mass incarceration is a neoliberal policy for dealing with social instability among economically marginalized populations.{{sfnp|Wacquant|2009|pp=125–126, 312}}{{sfnp|Harvey|2005|p=}} According to Wacquant, this situation follows the implementation of other neoliberal policies, which have allowed for the retrenchment of the social [[welfare state]] and the rise of punitive [[workfare]], whilst increasing [[gentrification]] of urban areas, [[privatization]] of public functions, the shrinking of collective protections for the working class via economic [[deregulation]] and the rise of underpaid, [[Precarity|precarious wage labor]].{{sfnp|Wacquant|2009|pp=53–54}}<ref>{{cite web |last=Shaw |first=Devin Z. |date=September 29, 2010 |title=Loïc Wacquant: "Prisons of Poverty" |url=http://notes-taken.blogspot.com/2010/09/loic-wacquant-prisons-of-poverty.html |website=The Notes Taken}}</ref> By contrast, it is extremely lenient in dealing with those in the upper echelons of society, in particular when it comes to economic crimes of the [[upper class]] and corporations such as [[fraud]], [[embezzlement]], [[insider trading]], credit and [[insurance fraud]], [[money laundering]] and violation of commerce and labor codes.{{sfnp|Wacquant|2009|pp=125–126, 312}}<ref>{{cite web |last=Wacquant |first=Loïc |author-link=Loïc Wacquant |date=August 1, 2011 |title=The punitive regulation of poverty in the neoliberal age |url=http://www.opendemocracy.net/5050/lo%C3%AFc-wacquant/punitive-regulation-of-poverty-in-neoliberal-age |url-status=dead |archive-url=https://web.archive.org/web/20180925115704/https://www.opendemocracy.net/5050/lo%c3%afc-wacquant/punitive-regulation-of-poverty-in-neoliberal-age |archive-date=September 25, 2018 |access-date=July 17, 2018 |website=[[openDemocracy]]}}</ref> According to Wacquant, neoliberalism does not shrink government, but instead sets up a "centaur state" with little governmental oversight for those at the top and strict control of those at the bottom.{{sfnp|Wacquant|2009|pp=125–126, 312}}<ref>{{cite journal |last1=Mora |first1=Richard |last2=Christianakis |first2=Mary |title=Feeding the School-to-Prison Pipeline: The Convergence of Neoliberalism, Conservativism, and Penal Populism |url=http://cedar.wwu.edu/cgi/viewcontent.cgi?article=1173&context=jec |journal=[[Journal of Educational Controversy]] |publisher=Woodring College of Education, [[Western Washington University]] |access-date=February 23, 2014}}</ref>' ]

[]

'<div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Society controlled by business corporations</div> <style data-mw-deduplicate="TemplateStyles:r1033289096">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}</style><div role="note" class="hatnote navigation-not-searchable">This article is about the idea of government dominated by corporate business interests. For the functions and interests of the state in a capitalist society, see <a href="/wiki/Capitalist_state" title="Capitalist state">Capitalist state</a>. For capitalist economies dominated by corporations, see <a href="/wiki/Corporate_capitalism" title="Corporate capitalism">Corporate capitalism</a>.</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"><div role="note" class="hatnote navigation-not-searchable">Not to be confused with <a href="/wiki/Corporatism" title="Corporatism">corporatism</a>, which is the organization of a society into groups which are determined by their collective common interests.</div> <style data-mw-deduplicate="TemplateStyles:r1097763485">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html 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The <a href="/wiki/Talk:Corporatocracy" title="Talk:Corporatocracy">talk page</a> may contain suggestions.</span> <span class="date-container"><i>(<span class="date">October 2018</span>)</i></span></div></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1097763485"><table class="box-Essay-like plainlinks metadata ambox ambox-style ambox-essay-like" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/40px-Edit-clear.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/60px-Edit-clear.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/f/f2/Edit-clear.svg/80px-Edit-clear.svg.png 2x" data-file-width="48" data-file-height="48" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This article <b>is written like a <a href="/wiki/Wikipedia:What_Wikipedia_is_not#Wikipedia_is_not_a_publisher_of_original_thought" title="Wikipedia:What Wikipedia is not">personal reflection, personal essay, or argumentative essay</a></b> that states a Wikipedia editor's personal feelings or presents an original argument about a topic.<span class="hide-when-compact"> Please <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Corporatocracy&amp;action=edit">help improve it</a> by rewriting it in an <a href="/wiki/Wikipedia:Writing_better_articles#Information_style_and_tone" title="Wikipedia:Writing better articles">encyclopedic style</a>.</span> <span class="date-container"><i>(<span class="date">October 2018</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this template message</a></small>)</i></span></div></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1097763485"><table class="box-Globalize plainlinks metadata ambox ambox-content ambox-globalize" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="Globe icon." src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/48px-Ambox_globe_content.svg.png" decoding="async" width="48" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/73px-Ambox_globe_content.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/97px-Ambox_globe_content.svg.png 2x" data-file-width="350" data-file-height="290" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">The examples and perspective in this article <b>deal primarily with the United States and do not represent a <a href="/wiki/Wikipedia:WikiProject_Countering_systemic_bias" title="Wikipedia:WikiProject Countering systemic bias">worldwide view</a> of the subject</b>.<span class="hide-when-compact"> You may <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Corporatocracy&amp;action=edit">improve this article</a>, discuss the issue on the <a href="/wiki/Talk:Corporatocracy" title="Talk:Corporatocracy">talk page</a>, or <a href="/wiki/Wikipedia:Article_wizard" title="Wikipedia:Article wizard">create a new article</a>, as appropriate.</span> <span class="date-container"><i>(<span class="date">August 2017</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this template message</a></small>)</i></span></div></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1097763485"><table class="box-POV plainlinks metadata ambox ambox-content ambox-POV" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/45px-Unbalanced_scales.svg.png" decoding="async" width="45" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/68px-Unbalanced_scales.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fe/Unbalanced_scales.svg/90px-Unbalanced_scales.svg.png 2x" data-file-width="400" data-file-height="354" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">The <b><a href="/wiki/Wikipedia:Neutral_point_of_view" title="Wikipedia:Neutral point of view">neutrality</a> of this article is <a href="/wiki/Wikipedia:NPOV_dispute" title="Wikipedia:NPOV dispute">disputed</a></b>.<span class="hide-when-compact"> Relevant discussion may be found on the <a href="/wiki/Talk:Corporatocracy##" title="Talk:Corporatocracy">talk page</a>. Please do not remove this message until <a href="/wiki/Template:POV#When_to_remove" title="Template:POV">conditions to do so are met</a>.</span> <span class="date-container"><i>(<span class="date">July 2023</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this template message</a></small>)</i></span></div></td></tr></tbody></table> </div> </div><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this template message</a></small>)</i></span></div></td></tr></tbody></table> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:American_corporate_flag.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/22/American_corporate_flag.jpg/220px-American_corporate_flag.jpg" decoding="async" width="220" height="124" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/22/American_corporate_flag.jpg/330px-American_corporate_flag.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/22/American_corporate_flag.jpg/440px-American_corporate_flag.jpg 2x" data-file-width="1920" data-file-height="1080" /></a><figcaption>Protester holding <a href="/wiki/Adbusters" title="Adbusters">Adbusters</a>' Corporate American Flag at <a href="/wiki/George_W._Bush" title="George W. Bush">George W. Bush</a>'s <a href="/wiki/Second_inauguration_of_George_W._Bush" title="Second inauguration of George W. Bush">2nd inauguration</a>, <a href="/wiki/Washington,_DC" class="mw-redirect" title="Washington, DC">Washington, DC</a></figcaption></figure> <p><b>Corporatocracy</b> (<span class="rt-commentedText nowrap"><span class="IPA nopopups noexcerpt" lang="en-fonipa"><a href="/wiki/Help:IPA/English" title="Help:IPA/English">/<span style="border-bottom:1px dotted"><span title="/ˌ/: secondary stress follows">ˌ</span><span title="&#39;k&#39; in &#39;kind&#39;">k</span><span title="/ɔːr/: &#39;ar&#39; in &#39;war&#39;">ɔːr</span><span title="&#39;p&#39; in &#39;pie&#39;">p</span><span title="/ə/: &#39;a&#39; in &#39;about&#39;">ə</span><span title="&#39;r&#39; in &#39;rye&#39;">r</span><span title="/ə/: &#39;a&#39; in &#39;about&#39;">ə</span><span title="/ˈ/: primary stress follows">ˈ</span><span title="&#39;t&#39; in &#39;tie&#39;">t</span><span title="/ɒ/: &#39;o&#39; in &#39;body&#39;">ɒ</span><span title="&#39;k&#39; in &#39;kind&#39;">k</span><span title="&#39;r&#39; in &#39;rye&#39;">r</span><span title="/ə/: &#39;a&#39; in &#39;about&#39;">ə</span><span title="&#39;s&#39; in &#39;sigh&#39;">s</span><span title="/i/: &#39;y&#39; in &#39;happy&#39;">i</span></span>/</a></span></span>, from <a href="/wiki/Corporate" class="mw-redirect" title="Corporate">corporate</a> and <a href="/wiki/Greek_language" title="Greek language">Greek</a>: <span lang="el">-κρατία</span>, <small><a href="/wiki/Romanization_of_Greek" title="Romanization of Greek">romanized</a>:&#160;</small><span title="Greek-language romanization"><i lang="el-Latn">-kratía</i></span>, <small><a href="/wiki/Literal_translation" title="Literal translation">lit.</a>&#8201;</small>&#39;domination by&#39;; short form <b>corpocracy</b><sup id="cite_ref-1" class="reference"><a href="#cite_note-1">&#91;1&#93;</a></sup>) is an economic, political and judicial system controlled by business <a href="/wiki/Corporation" title="Corporation">corporations</a> or corporate <a href="/wiki/Interest_group" class="mw-redirect" title="Interest group">interests</a>.<sup id="cite_ref-oxford_dictionary_2-0" class="reference"><a href="#cite_note-oxford_dictionary-2">&#91;2&#93;</a></sup> </p><p>The concept has been used in explanations of bank <a href="/wiki/Bailouts" class="mw-redirect" title="Bailouts">bailouts</a>, excessive pay for <a href="/wiki/Chief_Executive_Officer" class="mw-redirect" title="Chief Executive Officer">CEOs</a>, as well as complaints such as the exploitation of national treasuries, people, and natural resources.<sup id="cite_ref-perkins_ecuador_3-0" class="reference"><a href="#cite_note-perkins_ecuador-3">&#91;3&#93;</a></sup> It has been used by <a href="/wiki/Critics_of_globalization" class="mw-redirect" title="Critics of globalization">critics of globalization</a>,<sup id="cite_ref-haluszka_toronto_star_4-0" class="reference"><a href="#cite_note-haluszka_toronto_star-4">&#91;4&#93;</a></sup> sometimes in conjunction with <a href="/wiki/Criticism_of_the_World_Bank" class="mw-redirect" title="Criticism of the World Bank">criticism of the World Bank</a><sup id="cite_ref-webster_new_york_times_5-0" class="reference"><a href="#cite_note-webster_new_york_times-5">&#91;5&#93;</a></sup> or unfair lending practices,<sup id="cite_ref-perkins_ecuador_3-1" class="reference"><a href="#cite_note-perkins_ecuador-3">&#91;3&#93;</a></sup> as well as criticism of <a href="/wiki/Free_trade_agreements" class="mw-redirect" title="Free trade agreements">free trade agreements</a>.<sup id="cite_ref-haluszka_toronto_star_4-1" class="reference"><a href="#cite_note-haluszka_toronto_star-4">&#91;4&#93;</a></sup> Corporate rule is also a common theme in <a href="/wiki/Dystopian" class="mw-redirect" title="Dystopian">dystopian</a> <a href="/wiki/Science-fiction" class="mw-redirect" title="Science-fiction">science-fiction</a> media. </p> <div id="toc" class="toc" role="navigation" aria-labelledby="mw-toc-heading"><input type="checkbox" role="button" id="toctogglecheckbox" class="toctogglecheckbox" style="display:none" /><div class="toctitle" lang="en" dir="ltr"><h2 id="mw-toc-heading">Contents</h2><span class="toctogglespan"><label class="toctogglelabel" for="toctogglecheckbox"></label></span></div> <ul> <li class="toclevel-1 tocsection-1"><a href="#Use_of_&quot;corporatocracy&quot;_and_similar_ideas"><span class="tocnumber">1</span> <span class="toctext">Use of "corporatocracy" and similar ideas</span></a></li> <li class="toclevel-1 tocsection-2"><a href="#Corporate_influence_on_politics_in_the_United_States"><span class="tocnumber">2</span> <span class="toctext">Corporate influence on politics in the United States</span></a> <ul> <li class="toclevel-2 tocsection-3"><a href="#Corruption"><span class="tocnumber">2.1</span> <span class="toctext">Corruption</span></a></li> <li class="toclevel-2 tocsection-4"><a href="#Corporate_influence_on_legislation"><span class="tocnumber">2.2</span> <span class="toctext">Corporate influence on legislation</span></a></li> </ul> </li> <li class="toclevel-1 tocsection-5"><a href="#Perceived_symptoms_of_corporatocracy_in_the_United_States"><span class="tocnumber">3</span> <span class="toctext">Perceived symptoms of corporatocracy in the United States</span></a> <ul> <li class="toclevel-2 tocsection-6"><a href="#Share_of_income"><span class="tocnumber">3.1</span> <span class="toctext">Share of income</span></a></li> <li class="toclevel-2 tocsection-7"><a href="#Effective_corporate_tax_rates"><span class="tocnumber">3.2</span> <span class="toctext">Effective corporate tax rates</span></a></li> <li class="toclevel-2 tocsection-8"><a href="#Stock_buybacks_versus_wage_increases"><span class="tocnumber">3.3</span> <span class="toctext">Stock buybacks versus wage increases</span></a></li> <li class="toclevel-2 tocsection-9"><a href="#Industry_concentration"><span class="tocnumber">3.4</span> <span class="toctext">Industry concentration</span></a></li> <li class="toclevel-2 tocsection-10"><a href="#Mass_incarceration"><span class="tocnumber">3.5</span> <span class="toctext">Mass incarceration</span></a></li> </ul> </li> <li class="toclevel-1 tocsection-11"><a href="#See_also"><span class="tocnumber">4</span> <span class="toctext">See also</span></a></li> <li class="toclevel-1 tocsection-12"><a href="#References"><span class="tocnumber">5</span> <span class="toctext">References</span></a></li> <li class="toclevel-1 tocsection-13"><a href="#Further_reading"><span class="tocnumber">6</span> <span class="toctext">Further reading</span></a></li> <li class="toclevel-1 tocsection-14"><a href="#External_links"><span class="tocnumber">7</span> <span class="toctext">External links</span></a></li> </ul> </div> <h2><span id="Use_of_.22corporatocracy.22_and_similar_ideas"></span><span class="mw-headline" id="Use_of_&quot;corporatocracy&quot;_and_similar_ideas">Use of "corporatocracy" and similar ideas</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=1" title="Edit section: Use of &quot;corporatocracy&quot; and similar ideas"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h2> <p>Historian <a href="/wiki/Howard_Zinn" title="Howard Zinn">Howard Zinn</a> argues that during the <a href="/wiki/Gilded_Age" title="Gilded Age">Gilded Age</a> in the United States, the U.S. government was acting exactly as <a href="/wiki/Karl_Marx" title="Karl Marx">Karl Marx</a> described capitalist states: "pretending neutrality to maintain order, but serving the interests of the rich".<sup id="cite_ref-6" class="reference"><a href="#cite_note-6">&#91;6&#93;</a></sup> </p><p>According to economist <a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph Stiglitz</a>, there has been a severe increase in the <a href="/wiki/Market_power" title="Market power">market power</a> of corporations, largely due to U.S. <a href="/wiki/Antitrust" class="mw-redirect" title="Antitrust">antitrust</a> laws being weakened by <a href="/wiki/Neoliberal" class="mw-redirect" title="Neoliberal">neoliberal</a> reforms, leading to growing <a href="/wiki/Income_inequality_in_the_United_States" title="Income inequality in the United States">income inequality</a> and a generally underperforming economy.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7">&#91;7&#93;</a></sup> He states that to improve the economy, it is necessary to decrease the influence of money on U.S. politics.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8">&#91;8&#93;</a></sup> </p><p>In his 1956 book <i><a href="/wiki/The_Power_Elite" title="The Power Elite">The Power Elite</a></i>, sociologist <a href="/wiki/C._Wright_Mills" title="C. Wright Mills">C. Wright Mills</a> stated that together with the military and political establishment, leaders of the biggest corporations form a "power <a href="/wiki/Elite" title="Elite">elite</a>", which is in control of the U.S.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9">&#91;9&#93;</a></sup> </p><p>Economist <a href="/wiki/Jeffrey_Sachs" title="Jeffrey Sachs">Jeffrey Sachs</a> described the United States as a corporatocracy in <i><a href="/wiki/The_Price_of_Civilization" title="The Price of Civilization">The Price of Civilization</a></i> (2011).<sup id="cite_ref-sachs_price_of_civilization_10-0" class="reference"><a href="#cite_note-sachs_price_of_civilization-10">&#91;10&#93;</a></sup> He suggested that it arose from four trends: weak <a href="/wiki/Political_parties_in_the_United_States" title="Political parties in the United States">national parties</a> and strong political representation of individual districts, the large U.S. military establishment after <a href="/wiki/World_War_II" title="World War II">World War II</a>, large corporations <a href="/wiki/Corporate_political_donations" class="mw-redirect" title="Corporate political donations">using money to finance election campaigns</a>, and <a href="/wiki/Globalization" title="Globalization">globalization</a> tilting the balance of power away from workers.<sup id="cite_ref-sachs_price_of_civilization_10-1" class="reference"><a href="#cite_note-sachs_price_of_civilization-10">&#91;10&#93;</a></sup> </p><p>In 2013, economist <a href="/wiki/Edmund_Phelps" title="Edmund Phelps">Edmund Phelps</a> criticized the economic system of the U.S. and other western countries in recent decades as being what he calls "the new <a href="/wiki/Corporatism" title="Corporatism">corporatism</a>", which he characterizes as a system in which the state is far too involved in the economy and is tasked with "protecting everyone against everyone else", but at the same time, big companies have a great deal of influence on the government, with lobbyists' suggestions being "welcome, especially if they come with bribes".<sup id="cite_ref-Phelps2013_11-0" class="reference"><a href="#cite_note-Phelps2013-11">&#91;11&#93;</a></sup> </p> <h2><span class="mw-headline" id="Corporate_influence_on_politics_in_the_United_States">Corporate influence on politics in the United States</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=2" title="Edit section: Corporate influence on politics in the United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h2> <figure typeof="mw:File/Thumb"><a href="/wiki/File:The_Bosses_of_the_Senate_by_Joseph_Keppler.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e5/The_Bosses_of_the_Senate_by_Joseph_Keppler.jpg/240px-The_Bosses_of_the_Senate_by_Joseph_Keppler.jpg" decoding="async" width="240" height="158" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e5/The_Bosses_of_the_Senate_by_Joseph_Keppler.jpg/360px-The_Bosses_of_the_Senate_by_Joseph_Keppler.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e5/The_Bosses_of_the_Senate_by_Joseph_Keppler.jpg/480px-The_Bosses_of_the_Senate_by_Joseph_Keppler.jpg 2x" data-file-width="5111" data-file-height="3372" /></a><figcaption><i><a href="/wiki/The_Bosses_of_the_Senate" title="The Bosses of the Senate">The Bosses of the Senate</a></i>, corporate interests as giant money bags looming over <a href="/wiki/United_States_Senate" title="United States Senate">senators</a><sup id="cite_ref-12" class="reference"><a href="#cite_note-12">&#91;12&#93;</a></sup></figcaption></figure> <h3><span class="mw-headline" id="Corruption">Corruption</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=3" title="Edit section: Corruption"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h3> <p>During the <a href="/wiki/Gilded_Age" title="Gilded Age">Gilded Age</a> in the United States, <a href="/wiki/Corruption" title="Corruption">corruption</a> was rampant, as business leaders spent significant amounts of money ensuring that government did not regulate their activities.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13">&#91;13&#93;</a></sup> </p> <h3><span class="mw-headline" id="Corporate_influence_on_legislation">Corporate influence on legislation</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=4" title="Edit section: Corporate influence on legislation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h3> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Regulatory_capture" title="Regulatory capture">Regulatory capture</a></div> <p>Corporations have a significant influence on the regulations and regulators that monitor them. For example, Senator <a href="/wiki/Elizabeth_Warren" title="Elizabeth Warren">Elizabeth Warren</a> explained in December 2014 how an omnibus spending bill required to fund the government was modified late in the process to weaken banking regulations. The modification made it easier to allow taxpayer-funded bailouts of banking "swaps entities", which the <a href="/wiki/Dodd%E2%80%93Frank_Wall_Street_Reform_and_Consumer_Protection_Act" title="Dodd–Frank Wall Street Reform and Consumer Protection Act">Dodd-Frank</a> banking regulations prohibited. She singled out <a href="/wiki/Citigroup" title="Citigroup">Citigroup</a>, one of the largest banks, which had a role in modifying the legislation. She also explained how both Wall Street bankers and members of the government that formerly had worked on Wall Street stopped bi-partisan legislation that would have broken up the largest banks. She repeated President Theodore Roosevelt's warnings regarding powerful corporate entities that threatened the "very foundations of Democracy".<sup id="cite_ref-14" class="reference"><a href="#cite_note-14">&#91;14&#93;</a></sup> </p><p>In a 2015 interview, former President <a href="/wiki/Jimmy_Carter" title="Jimmy Carter">Jimmy Carter</a> stated that the United States is now "an oligarchy with unlimited political bribery" due to the <i><a href="/wiki/Citizens_United_v._FEC" title="Citizens United v. FEC">Citizens United v. FEC</a></i> ruling, which effectively removed limits on donations to political candidates.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15">&#91;15&#93;</a></sup> <a href="/wiki/Wall_Street" title="Wall Street">Wall Street</a> spent a record $2 billion trying to influence the <a href="/wiki/2016_United_States_elections" title="2016 United States elections">2016 United States elections</a>.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16">&#91;16&#93;</a></sup><sup id="cite_ref-17" class="reference"><a href="#cite_note-17">&#91;17&#93;</a></sup> </p><p><a href="/wiki/Joel_Bakan" title="Joel Bakan">Joel Bakan</a>, a <a href="/wiki/University_of_British_Columbia" title="University of British Columbia">University of British Columbia</a> law professor and the author of the award-winning book <i>The Corporation: The Pathological Pursuit of Profit and Power</i>, writes: </p> <style data-mw-deduplicate="TemplateStyles:r996844942">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 40px}.mw-parser-output .templatequote .templatequotecite{line-height:1.5em;text-align:left;padding-left:1.6em;margin-top:0}</style><blockquote class="templatequote"><p>The Law forbids any motivation for their actions, whether to assist workers, improve the environment, or help consumers save money. They can do these things with their own money, as private citizens. As corporate officials, however, stewards of other people’s money, they have no legal authority to pursue such goals as ends in themselves – only as means to serve the corporations own interests, which generally means to maximise the wealth of its shareholders. Corporate social responsibility is thus illegal – at least when its genuine.</p><div class="templatequotecite">—&#8202;<cite>Joel Bakan, <i>The Corporation: The Pathological Pursuit of Profit and Power</i> <sup id="cite_ref-18" class="reference"><a href="#cite_note-18">&#91;18&#93;</a></sup></cite></div></blockquote> <h2><span class="mw-headline" id="Perceived_symptoms_of_corporatocracy_in_the_United_States">Perceived symptoms of corporatocracy in the United States</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=5" title="Edit section: Perceived symptoms of corporatocracy in the United States"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h2> <h3><span class="mw-headline" id="Share_of_income">Share of income</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=6" title="Edit section: Share of income"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h3> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:U.S._Compensation_as_Percent_of_GDP_-_v1.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/04/U.S._Compensation_as_Percent_of_GDP_-_v1.png/400px-U.S._Compensation_as_Percent_of_GDP_-_v1.png" decoding="async" width="400" height="133" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/04/U.S._Compensation_as_Percent_of_GDP_-_v1.png/600px-U.S._Compensation_as_Percent_of_GDP_-_v1.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/04/U.S._Compensation_as_Percent_of_GDP_-_v1.png/800px-U.S._Compensation_as_Percent_of_GDP_-_v1.png 2x" data-file-width="1306" data-file-height="434" /></a><figcaption>From 1970 to 2013, labor's share of GDP has declined, measured based on total compensation as well as salaries and wages. This implies capital's share is increasing.</figcaption></figure> <p>With regard to income inequality, the 2014 income analysis of the <a href="/wiki/University_of_California,_Berkeley" title="University of California, Berkeley">University of California, Berkeley</a> economist <a href="/wiki/Emmanuel_Saez" title="Emmanuel Saez">Emmanuel Saez</a> confirms that relative growth of income and wealth is not occurring among small and mid-sized entrepreneurs and business owners (who generally populate the lower half of top one per-centers in income),<sup id="cite_ref-19" class="reference"><a href="#cite_note-19">&#91;19&#93;</a></sup> but instead only among the top .1 percent of the <a href="/wiki/Income_distribution" title="Income distribution">income distribution</a>, who earn $2,000,000 or more every year.<sup id="cite_ref-gabriel-zucman.eu_20-0" class="reference"><a href="#cite_note-gabriel-zucman.eu-20">&#91;20&#93;</a></sup><sup id="cite_ref-21" class="reference"><a href="#cite_note-21">&#91;21&#93;</a></sup> </p><p>Corporate power can also increase income inequality. Nobel Prize winner of economics <a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Joseph Stiglitz</a> wrote in May 2011: "Much of today’s inequality is due to manipulation of the financial system, enabled by changes in the rules that have been bought and paid for by the financial industry itself—one of its best investments ever. The government lent money to financial institutions at close to zero percent interest and provided generous bailouts on favorable terms when all else failed. Regulators turned a blind eye to a lack of transparency and to conflicts of interest." Stiglitz explained that the top 1% got nearly "one-quarter" of the income and own approximately 40% of the wealth.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22">&#91;22&#93;</a></sup> </p><p>Measured relative to GDP, total compensation and its component wages and salaries have been declining since 1970. This indicates a shift in income from labor (persons who derive income from hourly wages and salaries) to capital (persons who derive income via ownership of businesses, land, and assets).<sup id="cite_ref-23" class="reference"><a href="#cite_note-23">&#91;23&#93;</a></sup> </p><p><a href="/wiki/Larry_Summers" class="mw-redirect" title="Larry Summers">Larry Summers</a> estimated in 2007 that the lower 80% of families were receiving $664 billion less income than they would be with a 1979 income distribution, or approximately $7,000 per family.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24">&#91;24&#93;</a></sup> Not receiving this income may have led many families to increase their debt burden, a significant factor in the 2007–2009 <a href="/wiki/Subprime_mortgage_crisis" title="Subprime mortgage crisis">subprime mortgage crisis</a>, as highly leveraged homeowners suffered a much larger reduction in their net worth during the crisis. Further, since lower income families tend to spend relatively more of their income than higher income families, shifting more of the income to wealthier families may slow economic growth.<sup id="cite_ref-Mian_and_Sufi2014_25-0" class="reference"><a href="#cite_note-Mian_and_Sufi2014-25">&#91;25&#93;</a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">&#91;<i><a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources"><span title="Statement needs to be more specific about the content to which it refers. (April 2020)">specify</span></a></i>&#93;</sup> </p> <h3><span class="mw-headline" id="Effective_corporate_tax_rates">Effective corporate tax rates</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=7" title="Edit section: Effective corporate tax rates"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h3> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:U.S._Federal_Corporate_Income_Tax_Receipts_and_Pre-Tax_Profits.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/U.S._Federal_Corporate_Income_Tax_Receipts_and_Pre-Tax_Profits.png/400px-U.S._Federal_Corporate_Income_Tax_Receipts_and_Pre-Tax_Profits.png" decoding="async" width="400" height="240" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/eb/U.S._Federal_Corporate_Income_Tax_Receipts_and_Pre-Tax_Profits.png/600px-U.S._Federal_Corporate_Income_Tax_Receipts_and_Pre-Tax_Profits.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/eb/U.S._Federal_Corporate_Income_Tax_Receipts_and_Pre-Tax_Profits.png/800px-U.S._Federal_Corporate_Income_Tax_Receipts_and_Pre-Tax_Profits.png 2x" data-file-width="2520" data-file-height="1512" /></a><figcaption>U.S. corporate effective tax rates have fallen significantly since the year 2000.</figcaption></figure> <p>Some large U.S. corporations have used a strategy called <a href="/wiki/Tax_inversion" title="Tax inversion">tax inversion</a> to change their headquarters to a non-U.S. country to reduce their tax liability. About 46 companies have reincorporated in low-tax countries since 1982, including 15 since 2012. Six more also planned to do so in 2015.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26">&#91;26&#93;</a></sup> </p> <h3><span class="mw-headline" id="Stock_buybacks_versus_wage_increases">Stock buybacks versus wage increases</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=8" title="Edit section: Stock buybacks versus wage increases"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h3> <p>One indication of increasing corporate power was the removal of restrictions on their ability to buy back stock, contributing to increased income inequality. Writing in the <i><a href="/wiki/Harvard_Business_Review" title="Harvard Business Review">Harvard Business Review</a></i> in September 2014, William Lazonick blamed record corporate <a href="/wiki/Share_repurchase" title="Share repurchase">stock buybacks</a> for reduced investment in the economy and a corresponding impact on prosperity and income inequality. Between 2003 and 2012, the 449 companies in the S&amp;P 500 used 54% of their earnings ($2.4 trillion) to buy back their own stock. An additional 37% was paid to stockholders as dividends. Together, these were 91% of profits. This left little for investment in productive capabilities or higher income for employees, shifting more income to capital rather than labor. He blamed executive compensation arrangements, which are heavily based on stock options, stock awards, and bonuses, for meeting earnings per share (EPS) targets. EPS increases as the number of outstanding shares decreases. Legal restrictions on buybacks were greatly eased in the early 1980s. He advocates changing these incentives to limit buybacks.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27">&#91;27&#93;</a></sup><sup id="cite_ref-28" class="reference"><a href="#cite_note-28">&#91;28&#93;</a></sup> </p><p>In the 12 months to March 31, 2014, S&amp;P 500 companies increased their stock buyback payouts by 29% year on year, to $534.9 billion.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29">&#91;29&#93;</a></sup> U.S. companies are projected to increase buybacks to $701 billion in 2015, according to Goldman Sachs, an 18% increase over 2014. For scale, annual non-residential fixed investment (a proxy for business investment and a major GDP component) was estimated to be about $2.1 trillion for 2014.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30">&#91;30&#93;</a></sup><sup id="cite_ref-31" class="reference"><a href="#cite_note-31">&#91;31&#93;</a></sup> </p> <h3><span class="mw-headline" id="Industry_concentration">Industry concentration</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=9" title="Edit section: Industry concentration"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h3> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1033289096"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Too_big_to_fail" title="Too big to fail">Too big to fail</a> and <a href="/wiki/Concentration_of_media_ownership" title="Concentration of media ownership">Concentration of media ownership</a></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:5-bank_asset_concentration_for_United_States.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/5-bank_asset_concentration_for_United_States.png/220px-5-bank_asset_concentration_for_United_States.png" decoding="async" width="220" height="220" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/da/5-bank_asset_concentration_for_United_States.png/330px-5-bank_asset_concentration_for_United_States.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/da/5-bank_asset_concentration_for_United_States.png/440px-5-bank_asset_concentration_for_United_States.png 2x" data-file-width="500" data-file-height="500" /></a><figcaption>5-bank asset concentration for United States</figcaption></figure> <p>Brid Brennan of the Transnational Institute explained how the concentration of corporations increases their influence over government: "It's not just their size, their enormous wealth and assets that make the TNCs [transnational corporations] dangerous to democracy. It's also their concentration, their capacity to influence, and often infiltrate, governments and their ability to act as a genuine international social class in order to defend their commercial interests against the common good. It is such decision-making power as well as the power to impose deregulation over the past 30 years, resulting in changes to national constitutions, and to national and international legislation which has created the environment for corporate crime and impunity." Brennan concludes that this concentration in power leads to again more concentration of income and wealth.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32">&#91;32&#93;</a></sup><sup id="cite_ref-33" class="reference"><a href="#cite_note-33">&#91;33&#93;</a></sup> </p><p>An example of such industry concentration is in banking. The top 5 U.S. banks had approximately 30% of the U.S. banking assets in 1998; this rose to 45% by 2008 and to 48% by 2010, before falling to 47% in 2011.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34">&#91;34&#93;</a></sup> </p><p><i><a href="/wiki/The_Economist" title="The Economist">The Economist</a></i> also explained how an increasingly profitable corporate financial and banking sector caused Gini coefficients to rise in the U.S. since 1980: "Financial services' share of GDP in America, doubled to 8% between 1980 and 2000; over the same period their profits rose from about 10% to 35% of total corporate profits, before collapsing in 2007–09. Bankers are being paid more, too. In America the compensation of workers in financial services was similar to average compensation until 1980. Now it is twice that average."<sup id="cite_ref-35" class="reference"><a href="#cite_note-35">&#91;35&#93;</a></sup> </p> <h3><span class="mw-headline" id="Mass_incarceration">Mass incarceration</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=10" title="Edit section: Mass incarceration"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h3> <p>Several scholars have linked <a href="/wiki/Incarceration_in_the_United_States" title="Incarceration in the United States">mass incarceration of the poor in the United States</a> with the rise of neoliberalism.<sup id="cite_ref-FOOTNOTEHaymesVidal_de_HaymesMiller20153,_346_36-0" class="reference"><a href="#cite_note-FOOTNOTEHaymesVidal_de_HaymesMiller20153,_346-36">&#91;36&#93;</a></sup><sup id="cite_ref-37" class="reference"><a href="#cite_note-37">&#91;37&#93;</a></sup><sup id="cite_ref-FOOTNOTEGerstle2022130–132_38-0" class="reference"><a href="#cite_note-FOOTNOTEGerstle2022130–132-38">&#91;38&#93;</a></sup><sup id="cite_ref-39" class="reference"><a href="#cite_note-39">&#91;39&#93;</a></sup> Sociologist Loïc Wacquant and <a href="/wiki/Marxist" class="mw-redirect" title="Marxist">Marxist</a> economic geographer <a href="/wiki/David_Harvey" title="David Harvey">David Harvey</a> have argued that the criminalization of poverty and mass incarceration is a neoliberal policy for dealing with social instability among economically marginalized populations.<sup id="cite_ref-FOOTNOTEWacquant2009125–126,_312_40-0" class="reference"><a href="#cite_note-FOOTNOTEWacquant2009125–126,_312-40">&#91;40&#93;</a></sup><sup id="cite_ref-FOOTNOTEHarvey2005_41-0" class="reference"><a href="#cite_note-FOOTNOTEHarvey2005-41">&#91;41&#93;</a></sup> According to Wacquant, this situation follows the implementation of other neoliberal policies, which have allowed for the retrenchment of the social <a href="/wiki/Welfare_state" title="Welfare state">welfare state</a> and the rise of punitive <a href="/wiki/Workfare" title="Workfare">workfare</a>, whilst increasing <a href="/wiki/Gentrification" title="Gentrification">gentrification</a> of urban areas, <a href="/wiki/Privatization" title="Privatization">privatization</a> of public functions, the shrinking of collective protections for the working class via economic <a href="/wiki/Deregulation" title="Deregulation">deregulation</a> and the rise of underpaid, <a href="/wiki/Precarity" title="Precarity">precarious wage labor</a>.<sup id="cite_ref-FOOTNOTEWacquant200953–54_42-0" class="reference"><a href="#cite_note-FOOTNOTEWacquant200953–54-42">&#91;42&#93;</a></sup><sup id="cite_ref-43" class="reference"><a href="#cite_note-43">&#91;43&#93;</a></sup> By contrast, it is extremely lenient in dealing with those in the upper echelons of society, in particular when it comes to economic crimes of the <a href="/wiki/Upper_class" title="Upper class">upper class</a> and corporations such as <a href="/wiki/Fraud" title="Fraud">fraud</a>, <a href="/wiki/Embezzlement" title="Embezzlement">embezzlement</a>, <a href="/wiki/Insider_trading" title="Insider trading">insider trading</a>, credit and <a href="/wiki/Insurance_fraud" title="Insurance fraud">insurance fraud</a>, <a href="/wiki/Money_laundering" title="Money laundering">money laundering</a> and violation of commerce and labor codes.<sup id="cite_ref-FOOTNOTEWacquant2009125–126,_312_40-1" class="reference"><a href="#cite_note-FOOTNOTEWacquant2009125–126,_312-40">&#91;40&#93;</a></sup><sup id="cite_ref-44" class="reference"><a href="#cite_note-44">&#91;44&#93;</a></sup> According to Wacquant, neoliberalism does not shrink government, but instead sets up a "centaur state" with little governmental oversight for those at the top and strict control of those at the bottom.<sup id="cite_ref-FOOTNOTEWacquant2009125–126,_312_40-2" class="reference"><a href="#cite_note-FOOTNOTEWacquant2009125–126,_312-40">&#91;40&#93;</a></sup><sup id="cite_ref-45" class="reference"><a href="#cite_note-45">&#91;45&#93;</a></sup> </p> <h2><span class="mw-headline" id="See_also">See also</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=11" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h2> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 22em;"> <ul><li><a href="/wiki/Anti-corporate_activism" title="Anti-corporate activism">Anti-corporate activism</a></li> <li><a href="/wiki/Banana_republic" title="Banana republic">Banana republic</a></li> <li><a href="/wiki/Consumerism" title="Consumerism">Consumerism</a></li> <li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate crime</a></li> <li><a href="/wiki/Crony_capitalism" title="Crony capitalism">Crony capitalism</a></li> <li><a href="/wiki/Cyberpunk" title="Cyberpunk">Cyberpunk</a></li> <li><a href="/wiki/Elite_theory" title="Elite theory">Elite theory</a></li> <li><a href="/wiki/Inverted_totalitarianism" title="Inverted totalitarianism">Inverted totalitarianism</a></li> <li><a href="/wiki/Megacorporation" title="Megacorporation">Megacorporation</a></li> <li><a href="/wiki/Military%E2%80%93industrial_complex" title="Military–industrial complex">Military–industrial complex</a></li> <li><a href="/wiki/Oligarchy" title="Oligarchy">Oligarchy</a></li> <li><a href="/wiki/Plutocracy" title="Plutocracy">Plutocracy</a></li> <li><a href="/wiki/Regulatory_capture" title="Regulatory capture">Regulatory capture</a></li> <li><a href="/wiki/Socialism_for_the_rich_and_capitalism_for_the_poor" title="Socialism for the rich and capitalism for the poor">Socialism for the rich and capitalism for the poor</a></li></ul></div> <dl><dt>Works</dt></dl> <ul><li><i><a href="/wiki/Jennifer_Government" title="Jennifer Government">Jennifer Government</a></i></li> <li><i><a href="/wiki/The_Corporation_(2003_film)" title="The Corporation (2003 film)">The Corporation</a></i> (film)</li> <li><i><a href="/wiki/The_Power_Elite" title="The Power Elite">The Power Elite</a></i> (book)</li> <li><i><a href="/wiki/Zeitgeist:_The_Movie" class="mw-redirect" title="Zeitgeist: The Movie">Zeitgeist: The Movie</a></i></li></ul> <h2><span class="mw-headline" id="References">References</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=12" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h2> <style data-mw-deduplicate="TemplateStyles:r1011085734">.mw-parser-output .reflist{font-size:90%;margin-bottom:0.5em;list-style-type:decimal}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external free" href="https://wordspy.com/index.php?word=corpocracy">https://wordspy.com/index.php?word=corpocracy</a> corpocracy n. A society in which corporations have substantial economic and political power.</span> </li> <li id="cite_note-oxford_dictionary-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-oxford_dictionary_2-0">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1133582631">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free a,.mw-parser-output .citation .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited a,.mw-parser-output .id-lock-registration a,.mw-parser-output .citation .cs1-lock-limited a,.mw-parser-output .citation .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription a,.mw-parser-output .citation .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:#d33}.mw-parser-output .cs1-visible-error{color:#d33}.mw-parser-output .cs1-maint{display:none;color:#3a3;margin-left:0.3em}.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}</style><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20120517021234/http://oxforddictionaries.com/definition/corporatocracy">"Corporatocracy"</a>. <i>Oxford Dictionaries</i>. 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Retrieved <span class="nowrap">May 29,</span> 2012</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Oxford+Dictionaries&amp;rft.atitle=Corporatocracy&amp;rft_id=http%3A%2F%2Foxforddictionaries.com%2Fdefinition%2Fcorporatocracy&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> <li id="cite_note-perkins_ecuador-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-perkins_ecuador_3-0">^{<i><b>a</b></i>}</a> <a href="#cite_ref-perkins_ecuador_3-1">^{<i><b>b</b></i>}</a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFJohn_Perkins2011" class="citation news cs1">John Perkins (March 2, 2011). <a rel="nofollow" class="external text" href="https://www.huffingtonpost.com/john-perkins/ecuador-another-victory-f_b_830112.html">"Ecuador: Another Victory for the People"</a>. <i>Huffington Post</i><span class="reference-accessdate">. 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Retrieved <span class="nowrap">2012-01-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+New+York+Times&amp;rft.atitle=Thoughts+on+a+%27Corporatocracy%27&amp;rft.date=2008-08-14&amp;rft.au=Andy+Webster&amp;rft_id=https%3A%2F%2Fmovies.nytimes.com%2F2008%2F08%2F15%2Fmovies%2F15apol.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFZinn2005" class="citation book cs1"><a href="/wiki/Howard_Zinn" title="Howard Zinn">Zinn, Howard</a> (2005). <a href="/wiki/A_People%27s_History_of_the_United_States" title="A People&#39;s History of the United States"><i>A People's History of the United States</i></a>. 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Retrieved <span class="nowrap">21 September</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=unknown&amp;rft.btitle=5-Bank+Asset+Concentration+for+United+States&amp;rft.date=1996-01&amp;rft_id=http%3A%2F%2Fresearch.stlouisfed.org%2Ffred2%2Fseries%2FDDOI06USA156NWDB&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.economist.com/node/17957381">"Unbottled Gini"</a>. <i>The Economist</i>. 2011-01-20<span class="reference-accessdate">. Retrieved <span class="nowrap">21 September</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=The+Economist&amp;rft.atitle=Unbottled+Gini&amp;rft.date=2011-01-20&amp;rft_id=https%3A%2F%2Fwww.economist.com%2Fnode%2F17957381&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> <li id="cite_note-FOOTNOTEHaymesVidal_de_HaymesMiller20153,_346-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEHaymesVidal_de_HaymesMiller20153,_346_36-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFHaymesVidal_de_HaymesMiller2015">Haymes, Vidal de Haymes &amp; Miller (2015)</a>, pp.&#160;3, 346.<span class="error harv-error" style="display: none; font-size:100%"> sfnp error: no target: CITEREFHaymesVidal_de_HaymesMiller2015 (<a href="/wiki/Category:Harv_and_Sfn_template_errors" title="Category:Harv and Sfn template errors">help</a>)</span></span> </li> <li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFAviram2014" class="citation journal cs1">Aviram, Hadar (September 7, 2014). <a rel="nofollow" class="external text" href="https://ir.lawnet.fordham.edu/ulj/vol42/iss2/2/">"Are Private Prisons to Blame for Mass Incarceration and its Evils? 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Retrieved <span class="nowrap">December 27,</span> 2014</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Fordham+Urban+Law+Journal&amp;rft.atitle=Are+Private+Prisons+to+Blame+for+Mass+Incarceration+and+its+Evils%3F+Prison+Conditions%2C+Neoliberalism%2C+and+Public+Choice&amp;rft.date=2014-09-07&amp;rft_id=https%3A%2F%2Fpapers.ssrn.com%2Fsol3%2Fpapers.cfm%3Fabstract_id%3D2492782%23id-name%3DSSRN&amp;rft.aulast=Aviram&amp;rft.aufirst=Hadar&amp;rft_id=https%3A%2F%2Fir.lawnet.fordham.edu%2Fulj%2Fvol42%2Fiss2%2F2%2F&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> <li id="cite_note-FOOTNOTEGerstle2022130–132-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEGerstle2022130–132_38-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFGerstle2022">Gerstle (2022)</a>, pp.&#160;130–132.<span class="error harv-error" style="display: none; font-size:100%"> sfnp error: no target: CITEREFGerstle2022 (<a href="/wiki/Category:Harv_and_Sfn_template_errors" title="Category:Harv and Sfn template errors">help</a>)</span></span> </li> <li id="cite_note-39"><span class="mw-cite-backlink"><b><a href="#cite_ref-39">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFGottschalk2014" class="citation book cs1"><a href="/wiki/Marie_Gottschalk" title="Marie Gottschalk">Gottschalk, Marie</a> (2014). <a rel="nofollow" class="external text" href="http://press.princeton.edu/titles/10731.html"><i>Caught: The Prison State and the Lockdown of American Politics</i></a>. <a href="/wiki/Princeton_University_Press" title="Princeton University Press">Princeton University Press</a>. p.&#160;<a rel="nofollow" class="external text" href="https://books.google.com/books?id=CzDFCgAAQBAJ&amp;pg=PA10">10</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a>&#160;<a href="/wiki/Special:BookSources/978-0691164052" title="Special:BookSources/978-0691164052"><bdi>978-0691164052</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&amp;rft.genre=book&amp;rft.btitle=Caught%3A+The+Prison+State+and+the+Lockdown+of+American+Politics&amp;rft.pages=10&amp;rft.pub=Princeton+University+Press&amp;rft.date=2014&amp;rft.isbn=978-0691164052&amp;rft.aulast=Gottschalk&amp;rft.aufirst=Marie&amp;rft_id=http%3A%2F%2Fpress.princeton.edu%2Ftitles%2F10731.html&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> <li id="cite_note-FOOTNOTEWacquant2009125–126,_312-40"><span class="mw-cite-backlink">^ <a href="#cite_ref-FOOTNOTEWacquant2009125–126,_312_40-0">^{<i><b>a</b></i>}</a> <a href="#cite_ref-FOOTNOTEWacquant2009125–126,_312_40-1">^{<i><b>b</b></i>}</a> <a href="#cite_ref-FOOTNOTEWacquant2009125–126,_312_40-2">^{<i><b>c</b></i>}</a></span> <span class="reference-text"><a href="#CITEREFWacquant2009">Wacquant (2009)</a>, pp.&#160;125–126, 312.<span class="error harv-error" style="display: none; font-size:100%"> sfnp error: no target: CITEREFWacquant2009 (<a href="/wiki/Category:Harv_and_Sfn_template_errors" title="Category:Harv and Sfn template errors">help</a>)</span></span> </li> <li id="cite_note-FOOTNOTEHarvey2005-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEHarvey2005_41-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFHarvey2005">Harvey (2005)</a>.<span class="error harv-error" style="display: none; font-size:100%"> sfnp error: no target: CITEREFHarvey2005 (<a href="/wiki/Category:Harv_and_Sfn_template_errors" title="Category:Harv and Sfn template errors">help</a>)</span></span> </li> <li id="cite_note-FOOTNOTEWacquant200953–54-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-FOOTNOTEWacquant200953–54_42-0">^</a></b></span> <span class="reference-text"><a href="#CITEREFWacquant2009">Wacquant (2009)</a>, pp.&#160;53–54.<span class="error harv-error" style="display: none; font-size:100%"> sfnp error: no target: CITEREFWacquant2009 (<a href="/wiki/Category:Harv_and_Sfn_template_errors" title="Category:Harv and Sfn template errors">help</a>)</span></span> </li> <li id="cite_note-43"><span class="mw-cite-backlink"><b><a href="#cite_ref-43">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFShaw2010" class="citation web cs1">Shaw, Devin Z. 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Archived from <a rel="nofollow" class="external text" href="http://www.opendemocracy.net/5050/lo%C3%AFc-wacquant/punitive-regulation-of-poverty-in-neoliberal-age">the original</a> on September 25, 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">July 17,</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=unknown&amp;rft.jtitle=openDemocracy&amp;rft.atitle=The+punitive+regulation+of+poverty+in+the+neoliberal+age&amp;rft.date=2011-08-01&amp;rft.aulast=Wacquant&amp;rft.aufirst=Lo%C3%AFc&amp;rft_id=http%3A%2F%2Fwww.opendemocracy.net%2F5050%2Flo%25C3%25AFc-wacquant%2Fpunitive-regulation-of-poverty-in-neoliberal-age&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> <li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFMoraChristianakis" class="citation journal cs1">Mora, Richard; Christianakis, Mary. <a rel="nofollow" class="external text" href="http://cedar.wwu.edu/cgi/viewcontent.cgi?article=1173&amp;context=jec">"Feeding the School-to-Prison Pipeline: The Convergence of Neoliberalism, Conservativism, and Penal Populism"</a>. <i><a href="/w/index.php?title=Journal_of_Educational_Controversy&amp;action=edit&amp;redlink=1" class="new" title="Journal of Educational Controversy (page does not exist)">Journal of Educational Controversy</a></i>. Woodring College of Education, <a href="/wiki/Western_Washington_University" title="Western Washington University">Western Washington University</a><span class="reference-accessdate">. Retrieved <span class="nowrap">February 23,</span> 2014</span>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Journal+of+Educational+Controversy&amp;rft.atitle=Feeding+the+School-to-Prison+Pipeline%3A+The+Convergence+of+Neoliberalism%2C+Conservativism%2C+and+Penal+Populism&amp;rft.aulast=Mora&amp;rft.aufirst=Richard&amp;rft.au=Christianakis%2C+Mary&amp;rft_id=http%3A%2F%2Fcedar.wwu.edu%2Fcgi%2Fviewcontent.cgi%3Farticle%3D1173%26context%3Djec&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></span> </li> </ol></div></div> <h2><span class="mw-headline" id="Further_reading">Further reading</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=13" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h2> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFDeluca2011" class="citation journal cs1">Deluca, Kevin Michael (2011). <a rel="nofollow" class="external text" href="https://www.academia.edu/11323162">"Interrupting the World as It Is: Thinking Amidst the Corporatocracy and in the Wake of Tunisia, Egypt, and Wisconsin"</a>. <i>Critical Studies in Media Communication</i>. <b>28</b> (2): 86–93. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F15295036.2011.572680">10.1080/15295036.2011.572680</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a>&#160;<a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:144609166">144609166</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Critical+Studies+in+Media+Communication&amp;rft.atitle=Interrupting+the+World+as+It+Is%3A+Thinking+Amidst+the+Corporatocracy+and+in+the+Wake+of+Tunisia%2C+Egypt%2C+and+Wisconsin&amp;rft.volume=28&amp;rft.issue=2&amp;rft.pages=86-93&amp;rft.date=2011&amp;rft_id=info%3Adoi%2F10.1080%2F15295036.2011.572680&amp;rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A144609166%23id-name%3DS2CID&amp;rft.aulast=Deluca&amp;rft.aufirst=Kevin+Michael&amp;rft_id=https%3A%2F%2Fwww.academia.edu%2F11323162&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></li> <li>Shatalova, Yaroslavna Oleksandrivna. "Corporatocracy Concept In The Scope Of A Socio-Philosophical Analysis." <i>European Journal of Humanities and Social Sciences</i> 6 (2017): 133–137.</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1133582631"><cite id="CITEREFShaw2008" class="citation journal cs1">Shaw, Hillary J. (2008). <a rel="nofollow" class="external text" href="https://doi.org/10.1177%2F194277860800100113">"The Rise of Corporatocracy in a Disenchanted Age"</a>. <i>Human Geography</i>. <b>1</b>: 1–11. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="cs1-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1177%2F194277860800100113">10.1177/194277860800100113</a></span>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a>&#160;<a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:164022397">164022397</a>.</cite><span title="ctx_ver=Z39.88-2004&amp;rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&amp;rft.genre=article&amp;rft.jtitle=Human+Geography&amp;rft.atitle=The+Rise+of+Corporatocracy+in+a+Disenchanted+Age&amp;rft.volume=1&amp;rft.pages=1-11&amp;rft.date=2008&amp;rft_id=info%3Adoi%2F10.1177%2F194277860800100113&amp;rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A164022397%23id-name%3DS2CID&amp;rft.aulast=Shaw&amp;rft.aufirst=Hillary+J.&amp;rft_id=https%3A%2F%2Fdoi.org%2F10.1177%252F194277860800100113&amp;rfr_id=info%3Asid%2Fen.wikipedia.org%3ACorporatocracy" class="Z3988"></span></li></ul> <h2><span class="mw-headline" id="External_links">External links</span><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Corporatocracy&amp;action=edit&amp;section=14" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></h2> <style data-mw-deduplicate="TemplateStyles:r1134653256">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:#f9f9f9;display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/34px-Wikiquote-logo.svg.png" decoding="async" width="34" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/51px-Wikiquote-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/68px-Wikiquote-logo.svg.png 2x" data-file-width="300" data-file-height="355" /></span></span></div> <div class="side-box-text plainlist">Wikiquote has quotations related to <i><b><a href="https://en.wikiquote.org/wiki/Special:Search/Corporatocracy" class="extiw" title="q:Special:Search/Corporatocracy">Corporatocracy</a></b></i>.</div></div> </div> <ul><li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20100621191146/http://www.johnperkins.org/?page_id=9">lecture on Corporatocracy John Perkins lecture on Corporatocracy</a></li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20141017161054/http://citation.allacademic.com/meta/p_mla_apa_research_citation/4/3/6/5/1/p436510_index.html">Crimes of Globalization: The Impact of U.S. Corporatocracy in Third World Countries</a> by John Flores-Hidones</li></ul></div>'

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