Capitalism and corporate power

John Mikler

Chapter 12 in Elgar Encyclopedia of Business and Government, 2026, pp 67-72 from Edward Elgar Publishing

Abstract: Modern capitalism is characterised by large corporations. These dominate their industries and the global markets for their products and services. They also control international trade by sitting at the centre of global supply, production and value chains that they strategically coordinate. It is also the case that they are headquartered in a handful of states, and therefore while corporations’ influence and interests are global, nevertheless they remain substantially national or multi-national in their operations. This entry discusses how corporations wield their power, and the places from which they do so, to demonstrate that they both rival nation states as well as being an expression of the power of those in which they are based. This entry therefore concludes by suggesting that corporate power needs to be ‘balanced’ through global as well as national governance.

Keywords: Corporations; Capitalism; Institutions; Markets; Globalization; Trade (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035307777
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