Zachary Karabell for The Daily Beast: Huge Corporations Win Global Economic Spoils as 99 Percent Get Squeezed

April 23rd, 2012

The Daily Beast
April 23, 2012
By, Zachary Karabell

The 1 percent versus the 99 percent—the haves and the have-nots; the government or the people; China versus the United States. Our conversations today are framed by these splits, yet as compelling as these are, they are each secondary to the yawning gulf that has emerged between large, multinational companies and everything else.

The real 1 percent are the panoply of global corporations that are even now reporting astonishing profits for the first part of 2012, just as they have for nearly every quarter for the past decade—save for a brief blip at the end of 2008 and early 2009. The much-vaunted gap that has emerged in the United States and elsewhere in the world—income inequality is also increasing in countries such as Brazil and China—is a by-product of the much wider gap between companies and all the rest. So stark is the contrast between companies on the one hand and individuals, nations, and various groups on the other, that it would be better to speak of multinationals as inhabiting their own world, with their own rules, mores and rewards, and that world, call it Corporateland, is the undisputed victor in the global game of spoils.

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