A small number of transnational corporations, operating globally, now control a vast share of the world’s economic activity. Their wealth outstrips that of most nations: More than half of the world’s...

A small number of transnational corporations, operating globally, now control a vast share of the world’s economic activity. Their wealth outstrips that of most nations: More than half of the world’s top 100 economies are corporations (U.S. News & World Report, 2004). Wal-Mart outsells Saudi Arabia. The Bank of America outsells Hungary. General Motors has a higher GDP than all but 22 countries and twice that of Singapore, Ireland, and the Philippines.