The modern, un-regulated, transnational corporation is "A cloud over civilisation"
The neo-liberal economic model frees corporations from governments and national boundaries in order to create a 'level playing field' internationally for the world's transnational enterprises. It does this through de-regulation and reduction of corporate tax rates to near zero. The model also hamstrings individual nation's ability to govern their economy though free trade agreements which limit central bank's ability to create money - the main 'lever' of fiscal management.
But as many of these transnationals are bigger than some counties, and have great power and influence in most (and have aparently usurped democratic institutions in the most powerful one, the United States) - they have become 'Pirate Ships' on the Ocean of Civilization. They have no interest in any one nation, and are able to 'raid' any economy, rape it, and then move on to the next - playing one off the other as they go along.
Profit is the primary concern of the corporation, and systems have evolved in these institutions that parse out human error in descsion making (read, 'all human influence'), and as such the corporate entity - and especially 'combines', groups of these entities - become more and more, an amoral force. Parasites on communities and civilization in general. Not only just parasites, but carcinogens - they have the power and influence to lead us into a third world war,a nuclear war which civilization will not survive.
In other words, unless democratic power is brought to bear upon it, Pirate Capitalism is likely to destroy civilization itself. The all-powerful corporation is untenable with civilization, therefore the only modern institution large and powerful enough to do so, the Federal Government - especially with regard to foreign policy - must strictly regulate finance/capital.
"A cloud over civilisation"
Corporate power is the driving force behind US foreign policy - and the slaughter in Iraq
by JK Galbraith
The Guardian, Thursday 15 July 2004
(edited 11/07/11 ---1:14)