What is a government run by corporations called?

What is a government run by corporations called?

Corporatocracy (/ˌkɔːrpərəˈtɒkrəsi/, from corporate and Greek: -κρατία, romanized: -kratía, lit. ‘domination by’; short form corpocracy) is a term used to refer to an economic, political and judicial system controlled by corporations or corporate interests.

Is a corporation run by the government?

Government Corporations In some cases, government-owned corporations are considered part of the government, and are directly controlled by it. In other instances, government-owned corporations are similar to private enterprises except that the government is the majority stockholder.

Can a corporation run a country?

Corporate republics do not exist officially in modern history. Modern competition laws and the development of modern nation-states prevent a company from gaining or being granted such amounts of political power.

Do corporations have more power than the government?

Corporations are making more, spending more, and employing more of the world’s resources than ever before. In the United States alone, total revenues for the Fortune 500 in 2005 hit $9.1 trillion, which is 73 percent of U.S. GDP.

How are corporations governed?

Corporations are governed by a certificate of incorporation (sometimes also called a charter or articles of incorporation) and a set of bylaws, which set out board election and voting procedures.

What businesses are owned by the US government?

A government-run business performs commercial actions on behalf of a government. The US government has several of these, including the passenger railroad company Amtrak, the United States Postal Service and federal mortgage corporations Fannie Mae and Freddie Mac.

How are corporations so powerful?

Corporations exert political influence to obtain subsidies, reduce their tax burdens, and shape public policy. Corporate policies on working conditions, benefits, and wages affect the quality of life of millions of people.

Are states or corporations more powerful?

States occupy the top rankings, with the US first followed by China and Japan (the eurozone ranks first with more than US$5,600 billion if we treat it as a single political entity). But plenty of corporations are on par with some of the largest economies in the world: Walmart exceeds Spain and Australia, for example.

How are corporations created and how are they regulated?

Historically, corporations were created by a charter granted by government. Today, corporations are usually registered with the state, province, or national government and regulated by the laws enacted by that government. Registration is the main prerequisite to the corporation’s assumption of limited liability.

How is corporatocracy used in the United States?

The concept has been used in explanations of bank bailouts, excessive pay for CEOs, as well as complaints such as the exploitation of national treasuries, people, and natural resources.

What kind of corporations can the state own?

This includes most charitable corporations, non-profit corporations, and for-profit corporations. States also have the power to charter corporations that they own, control, or are responsible for the regulation and finance of.

What does it mean to be a government owned company?

The GAO report did not consider the potential use in the international forum of SOEs as extensions of a nation’s foreign policy utensils. A government-owned corporation is a legal entity that undertakes commercial activities on behalf of an owner government.

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