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The Rise of the Illegitimate Authority of Transnational Corporations

The following is an excerpt from the introduction to Shadow Sovereigns: How Global Corporations are Seizing Power:

We’re surrounded.

Everywhere you look you find masses, droves, gangs of unelected, unaccountable, profit-oriented indi­viduals, corporations and new institutions surfacing everywhere, making official policy in areas ranging from public health to food and agriculture; from taxes to finance and trade. Some are lob­byists for particular private companies or for entire industries, others executives of the world’s largest businesses, often with a turnover much greater than the Gross Domestic Product (GDP) of many of the countries where they operate; more and more often, the entities they have created have become quasi-governmental bodies cooperating across national frontiers.

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