Friday, December 11, 2009

No less than a coup

The apparently indisputable virtue of choice is one of the founding principles of market economy - a belief that seems empowering to most consumers. In reality, the 'choice' is just a fa├žade. With most of what we consume largely controlled and supplied by big business - in many cases supported by government subsidies - our choices reflect an apology of options that are socially engineered by the corporations to allure the unsuspecting consumers. And in many cases, most of what we consume is either not good for us or for the environment we live in.

What is not good for people is rewarding for the big businesses though! One estimate suggests that the biggest 500 transnational corporations (TNCs) control about 70 per cent of the world trade, 80 per cent of foreign investment and about 30 per cent of the world GDP. As if this is not enough, only ten companies control half of the seed market; five control 90 per cent of the international grain trade; 85 per cent sales of pesticides are controlled by six big companies; and one such Monsanto controls 91 per cent of the global market of genetically modified products....more

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