Who's in Control?
Issue 14

Publisher:  Division of Mission Research on Social Issues, United Church of Canada, Toronto, Canada
Year Published:  1977
Pages:  4pp   Resource Type:  Article
Cx Number:  CX228

An examination of the phenomenon of corporate power.

Abstract: 
This issue sheet examines the phenomena of corporate power. It shows that individual powerlessness increases in proportion to the consolidation of ecomomic decision making in the form of multinational coporations. These giants are identified as being the dominant influence in our market economy while functioning ----d the legal power and national concern of individual countries. This situation is judged as passing a serious threat to our democtratic traditions because major shareholders and the board of directors are often the same people and thus are accountable only to themselves. When one percent of Canadian income earners own over 48% of shares, it becomes impossible to have a say in corporate policy. Globally multinational corporations (MNC) are shown to have monopoly control over technology, marketing and finance; these lead to development that is capital rather than labor intensive, monopolistic and consumption-oriented rather than need fulfilling. The paper describes responses of various groups to the impact of MNC. These attempts to either change, regulate or promote the multi-national. The aims and strategies of the Inter Church Task Force on Corporate Responsibility are outlined and current corporate concerns are dealt with. These include church opposition to the following: l) Canadian bank loans to the racist government of South Africa; 2) Falcanbridge mine operations in illegally occupied Mambia; 3) Noranda's investment in Chilean copper; 4) Reed Paper Ltd.'s planned forest development in Northern Ontario. Resources and suggestions for action are detailed.
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