The top 10 asset management firms now control $50 trillion of global wealth. They answer to no one but the ultrarich — the 0.05 percent — whose fortunes they continue to expand. The rest of us pay the price. Investing in everything from fossil fuel companies to private prisons to weapons manufacturers, they provide the economic lifeblood for some of the most destructive forces in the world. This not only undermines democracy, but imperils our very survival.
In his new book out this September, Titans of Capital: How Concentrated Wealth Threatens Humanity (The Censored Press & Seven Stories Press), Peter Phillips takes us deep into the world of these transnational asset management firms and the people who run them: the “Titans.” He shows how they constitute a new global elite who wield nearly unchecked power.
Phillips is professor of political sociology (emeritus) at Sonoma State University, the former director of Project Censored (1996 to 2010) and the former president of Media Freedom Foundation (2003 to 2017). He has been editor or co-editor of 14 editions of Censored, was co-editor with Dennis Loo of Impeach the President: The […]
It seems between Congress and Biden, the US took a serious fall. I haven’t yet read the book, but I remember doing an article on Congress and the stunning payoffs they get to formulate and or pass. legislation that benefits corporations were disgusting.
Biden amd Congress? Looked like the period 2017-2022 was mostly Trump’s Presidency.