Intellectual monopoly capitalism and its effects on development
What is new with contemporary (global) leading corporations? If gigantic monopolies are a repeated phenomenon in capitalism’s history, why all the fuss we see every day regarding high concentration?
Leading corporations of the 21st century are intellectual monopolies. These are firms that rely on a permanent and expanding monopoly over portions of society’s knowledge. A recent joint OECD and European Union report shows that the top 2000 corporations in business expenditure in research and development (BERD) concentrated 60% of total IP5 1 patents between 2014 and 2016 (Dernis et al., 2019).
Social Media And Polarization Of Society
Social Media has witnessed a mushrooming growth that has impacted the discourse of political, cultural and religious systems by providing the equal opportunity of Freedom of expression and sharing opinion or viewpoint on any issue.
Social Media has played a greater role in rightwing politics that paved the way for populist politicians to reach out to their voters.
Though Social Media has connected the people around the world but at the same time, it is causing division or disintegration and facilitating the social media lobbyists to polarize the communication to such extent that the people support the arguments or opinions or political tirade against the leadership without fact checking .
Out of the Pandemic, Chances for Another Future
About a year ago, just as the pandemic was hitting New York City, St. John Frizell and his two partners were readying for the grand reopening of Gage & Tollner, a newly renovated, 140-year-old restaurant in Downtown Brooklyn. One day before the March 15 opening — for which the three partners had spent almost a year and a half preparing — they made the difficult decision not to open.
Mr. Frizell retreated to his home in Brooklyn. “The only sounds in the street were ice cream trucks and ambulances,” he recalled. Anxious about going to the supermarket but needing groceries for himself and his son, he reached out to one of his vendors, Lancaster Farm Fresh Co-op, to see about having some food delivered. Lancaster was delivering boxes of seasonal produce, but needed an order large enough to be worth the trip. So Mr. Frizell, who suddenly had downtime, did something he hadn’t done in a while: He reached out to his neighbors.