Capital Markets and ‘Financialisation’ of the World: Difference between revisions

===The Efficiency and Influence of Multinational Corporations===

According to Dembinski’s calculations, 800 of the biggest multinationals employ approximately 30 million workers, which is but 1% of the world’s active productive population. Concerning labour productivity, these ‘giants’ are thus about ten times more efficient than the world average labour productivity. This does not come ‘for free’, though: The same exclusive group represents about 60% of the global capitalisation of the world’s financial markets. Therefore, vice versa, the capital intensity of the multinational giants is ten times higher than it is in the rest of the world. Thanks to their influence, the ‘giants’ get a decisive share on the savings of the entire world’s ‘households’ in global stock exchanges by means of emitting their obligations and stocks and their privileged access to bank accounts globally. Thanks to their privileged access to capital, the giant multinationals are capable of substituting labour with capital at a level inaccessible to others.