The author is convinced that there is a ruling class in America today. He examines the American power structure as it has developed in the 1980s. He presents systematic, empirical evidence that a fixed group of privileged people dominates the American economy and government. The book demonstrates that an upper class comprising only one-half of one percent of the population occupies key positions within the corporate community. It shows how leaders within this "power elite" reach government and dominate it through processes of special-interest lobbying, policy planning and candidate selection. It is written not to promote any political ideology, but to analyze our society with accuracy.
Mintz and Schwartz offer a fascinating tour of the corporate world. Through an intensive study of interlocking corporate directorates, they show that for the first time in American history the loan making and stock purchasing and selling powers are concentrated in the same hands: the leadership of major financial firms. Their detailed descriptions of corporate case histories include the forced ouster of Howard Hughes from TWA in the late fifties as a result of lenders' pressure; the collapse of Chrysler in the late seventies owing to banks' refusal to provide further capital infusions; and the very different "rescues" of Pan American Airlines and Braniff Airlines by bank intervention in the seventies.
This work provides a description of the historical background of the act, a summary of judicial interpretations of the statute, and analysis of the proposals to expand and strengthen the act.
The cornerstone and principal feature of this book includes the urgency and necessity priority and nanometer scale (where size is measured in one billionth of a meter) are in possession of nanoscale practical application delivery, convergence and the transformation of both the North American Industry Classification System (NAICS), 2012, and the United Nations International Standard Industrial Classification of All Economic Activities, Rev.4, into sources of global competitive advantage worldwide economic growth. The challenge that has blocked this global nanotechnology priority strategy is the 2007-2008 to 2012-2013 financial, economic, monetary, banking and corporations crisis and collapse. Leading factors in the creation of this financial and economic crisis include the huge global over-the-counter (OTC) derivatives accumulation in excess of the demand for dollars. This challenge was orchestrated by mega aggregate concentration that consisted of voting rights in major corporations, structure of corporate concentration, institutional shareholders, and interlocking directorates. There were catastrophic and calamity consequences accompanied by U.S. Federal Reserve Asset Purchases.
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