- What do overlapping corporate interests say about the concentration of power in our society?
The overlapping corporate interests insinuate the concentration of power held by a few corporations that control the daily lives of billions of people across the globe. Through such powers, multinational corporations such as Kellogg’s, Coca-Cola, and so much more, rewrite laws that protect and enrich them over time. For example, several corporations have been accused of meddling in elections or supporting various think-tank groups in an attempt to win fairer tax laws from the governments. In the recent past, Jane Mayer, a renowned journalist, and writer for the New Yorker in her book, Dark Money: The Hidden History of Billionaires behind the rise of the radical right, covered the overlapping corporate interests and its effects on the American people (Mayer, 2016). It is, therefore, worth mentioning that strong national laws should be put in place to control the excess powers that such multinational organizations have on the societies.
2. In what ways do corporations and the stifling of competition contribute to social problems in our society? Why do you think this way?
The stiff competition among corporations leads to
social problems such as environmental degradation and the spread of diseases.
For instance, a corporation would choose to increase the level of production in
an attempt to compete favorably with the competitor in the market. In so doing,
the number of waste materials channeled from such organizations doubles or
increases to an alarming rate. The excess smoke and untreated sewage channeled
by such organizations may lead to adverse health effects on the people living
in surrounding areas. Additionally, intense competition among corporations may
lead to depletion of available limited resources such as water and land in the
areas. As a result, social problems such as hunger and famine would emerge. It is,
therefore, necessary for strong regulatory measures to be put in place to curb
such social problems.
Mayer, J. (2016). The Hidden History of Billionaires Behind the Rise of the Radical Right. New York, NY: Doubleday.