Whether News Corp, banks or food giants, transnationals are not so much a state within a state as a power beyond it
The deep corruption of power revealed by the phone-hacking scandal has led many to question how Rupert Murdoch's News Corporation could establish "a state within a state". MPs have trumpeted their determination to make sure it never happens again. They will struggle.
As if to rub the point in, BSkyB's board announced it was back to business as usual on Thursday. Despite parliament's question mark over the integrity of its chairman, James Murdoch, the rest of the board said they fully supported him. A few hours later the Guardian reported a new low in the saga - allegations that Sarah Payne's mother's phone may have been hacked. But the corporation marches on.
The fact is that the modern globalised corporation is not a state within a state so much as a power above and beyond the state. International development experts stopped talking about multinationals years ago, preferring instead the tag of transnational corporations (TNCs), because these companies now transcend national authorities.[view whole blog post ]