Globalization from the Bottom Up

A Blueprint for Modern Capitalism

By: A. Coskun Samli

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eText | 5 December 2008

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The net pro?t of Exxonfor the year2005was reportedto be almost $8 billion which re?ectedabout40percentgrowthinits pro?tpicturewithina year. Aspro?tpictures of fuel, arms, medical services and ?nancial services industries among others reach unbelievable levels, by de?nition, most consumers get poorer because they have less money left for other essentials for their lives such as food, education, medical needs, and housing. Adding insult to injury, of the 100 largest budgets in the world, 52 belong to private corporations. Needless to say, such accumulation of economic power and such mind-boggling pro?t pictures do not encourage any movement on the part of these powerhouse companies to reach out and do something about the troubled world within which they have amassed such economic and indeed in- rectly political power. This is a questionable view of the world; I have to get more power before others do it and I get it at the expense of others. This is what this author coins the GREED FACTOR. As has been said, power corrupts and absolute power corrupts absolutely. The greed factor unfortunately is at the threshold of - solute power that corrupts absolutely. Unchecked and unguided continuity of this orientation is bound to bring disaster to this very fragile planet called the earth. We must establish a point of view that if the world we live in does better, there will be more for everyone. In other words, everyonewill be better off economically.