The concentration of economic power: 1% = 20%

For almost 40 or more years political economists have been raising the issue of the inherent risks of the concentration of global economic power into a small minority of transnational corporations. What has been lacking however is good quality data which actually shows the  level of interconnectivity and interlocking equity/stock ownership. The recent study released in late 2011 by the Swiss Federal Institute of Technology in Zurich provides the much needed data to quantify the actual concentration. Using the Orbis database of 37 million companies and investors globally, analysis revealed a core of 1,318 transnational companies which controlled 20 percent of the world's operating revenues. Through share ownership of other companies the 1,318 had control over a further 60 per cent of global revenues. Perhaps the most revealing aspect is the revelation of the existence of 147 "super entities" which in effect controlled 40 per cent of the entire economic network.

Of the greatest interest is the fact within the super-entity group, companies associated with the Global Financial Crisis were listed in the top 20 such as Barclays Bank, JP Morgan Chase & Co and The GoldmanSachs Group. In many respects, the study provides the architecture of global economic power but more importantly it illustrates a potential vulnerability created by such a narrow base where an event such as the Global Financial Crisis occurs.

Social media - tripping up the unwary

 

The 2011 Jobvite survey in the United States is a reminder of how pervasive social media platforms and applications have become with a survey of 800 companies showing that 80.2% of the survey sample had used social media or similar networks to recruit staff. It was also found in the survey that 58% of the survey sample had successfully hired from social networks with 36.4% reporting they had no success. Perhaps the most revealing statistic from the survey data was highlighted recently (Feb 2012) by the Australian Institute of Company Directors (AICD) citing the figure that 45% of managers checked social media accounts before offering a job to an applicant and 35% had found something that stopped them making an offer. This is a salient lesson for all those with a web presence particularly in Web 2.0 applications to be careful about what information about them is publicly visible to other people. 

Where fact is stronger than fiction: ice age phenomena

Science fiction enthusiasts , environmentalists and general movie buffs will be familiar with the 2004 film 'The Day After Tomorrow" where the Earth particularly the Northern Hemisphere is faced with another ice age in a very short time frame of only weeks whereas conventional theory and models tended to view changes as taking decades to occur. Recent research from ancient lake drillings at Lake Monreagh in Ireland have indicated that the Younger Dryas mini Ice Age which took place 12,800 years ago took only months, at most a year, to occur. 

This ice age wihich covered the Northern  Hemisphere was caused by a slowdown in the Gulf stream and lasted approximately 1,300 years with a correspondingly devastating impact on early human societies and culture which existed in the region at that time. Until recently it was considered, based on ice core samples from Greenland, that the mini ice age took at least a deacde to evolve but this has now sharply contradicted by the new findings. The conclusion to draw from this research is simply that climate change phenomena can occur much more quickly that first thought and simply delaying essential decisions does little to reduce risk.

Meow meow or bow wow - the truth about cats and dogs

Most pet owners of cats and dogs can testify to the characteristics of their pets whether feline or canine particularly the independence and soliatary nature of cats and the steadfast loyalty almost dependency of dogs. After all, what else can testify to the differences between the species than the relative ease in training dogs and the almost impossible task when attempting the same with cats. When groups of people with disparate opinions fail to reach a consensus, its often described as 'being like herding cats.." 

In reality perceptions are grounded in scientific fact with sizeable differences between the brains of cats and dogs. The average dog brain at 64 grams is much heavier than the smaller cat brain of 25 grams but size is not everything. The smaller cat brain packs in much more information processing power however with over 300 million neurons in the cortex compared to the much more limited capacity of dogs which have, on average, only 160 million neurons. Fido is no competitor for kitty in these stakes with cats outperforming dogs in a variety of cognitive tasks. Where Fido has the advantage however is in the area of bonding with humans, problem solving and understanding tasks. 

Film Review - The Iron Lady

Meryl Streep in her role as Margaret Thatcher

Films which attempt to portray current living public figures whether still active or retired are difficult enterprises particularly as the subject matter may still engender many conflicting opinions without the benefit of dispassionate appraisal and historical perspective. 'The Iron Lady' is a very flawed film both in structure, story-telling construction and the technique employed to provide a small smattering of key events in Margaret Thatcher's long public life. What the film does confirm is the superb acting skills of Meryl Streep who is undoubtedly a consumate professional of her art form. The film would be better titled 'Margaret and Denis' as much of the film is set in this closing period of Baroness Thatcher's life (in fact its set over 3 days) where she reflects on a few key events through conversations with her long departed husband Denis. In fact the film is dominated and segmented by these odd appearances of Denis while the now elderly and faltering Margaret sorts througn her late husband's possessions for donating to charity.

Baroness Thatcher is still alive so this film does nothing to really examine her life in any meaningful manner particularly her 11 years as the United Kingdom's first and only (to-date) female Prime Minister. Both detractors and supporters of Margaret Thatcher will find this a very unsatisfying shallow film as will those with a genuine interest in politics, social theory, British history and world events of the era when Mrs Thatcher was Prime Minister.

Christmas 2011

The Christmas Tree - a pagan ritual or pious belief ?

Towards the end of the calendar year, the Christmas celebration occurs annually on December 25, an event which has variable practices stretching from the exchange of goodwill and a generous spirit of sharing to the rampant purchase of consumer goods, the hanging of an array of gaudy decorations and the profligate display of inflated images of Saint Nicholas (named Santa Claus), a sled with some reindeer. Generally the event is recognised  as a religious and cultural holiday across the globe. Christmas however at its origin remains a feast central to the Christian liturigical year, closing the Advent season and initiating the twelve days of Christmastide. 

The precise day of the birth of Jesus is unknown occuring somewhere between the 7th and 2nd Century BC however in the early-to-mid 4th century AD, the Western Christian Church placed Christmas on December 25, a date which was also adopted later by the Eastern Church. Since then however a number of additional practices has been added including the display of a Christmas tree, considered by some religious scholars as the adoption of a pagan tradition and ritual surrounding the Winter Solstice. This involved the use of evergreen boughs with the adaptation of pagan tree worship. The figure of Santa Claus is also partly pagan as the current form is a combination of Saint Nicholas of Myra (a 4th Century Greek Christian Bishop) and Odin, the Norse God whom was also worshipped in Northern Europe including Germany and Holland. At any rate, the value of Christmas is the annual pause in the transactions of life, the focus on others and the end of year reflection whether this occurs through religious worship or the provision of a civil holiday and recreational rest.