Since the end of World War II, the international world order of political apparatuses such as the United Nations has established a defacto global community in which institutions and individuals can interact in a mutually neutral environment. Lesser-remembered international agreements started during this time includes the economic agreement known as the Brenton Woods agreement. This became basis for the international currency known as the Petrodollar, derived is from the US dollar as an international standard of exchange. Political networks entangle the United States with the supranational institution of NATO, alliances with Arabian oil kingdoms like Saudi Arabia, policies of regime change and economic hitmen to orient other nations's economic policies, amongst many other questionable policies and trends. A structure of corporate conglomerates formed as a reaction by markets to the hegemonic nature of the Petrodollar. This resulted in structures of corporate networks among the world's 43,000 transnational corporations; forming an economic core of 1318 mega corporations controlling 80% of global revenue. Within this corporate core resides large financial institutions like Barclays, JP Morgan, Deutsche Bank, HSBC, AXA, etc; as well as the worlds largest oil companies such as Exxon, BP, etc.https://arxiv.org/PS_cache/arxiv/pdf/1107/1107.5728v2.pdf
Together, the monetary structure of the United States's World Bank and the European Union's International Monetary Fund that facilitate the global currency system, challenge by the Brazil-Russian-India-China-South Africa alliance of the BRICS Development Bank, in addition to the Chinese based Asian Infrastructure Investment Bank is putting pressure on the global hegemony of the Petrodollar. Such economic struggles will fail to solve economic issues and will result in corporate consolidation of the global economic system. In order to prevent further chaos and hardship, we must assess our current situation and prevent new mistakes and errors.
By allowing private capital to transcend national boundaries via multinational corporation's, banking institutions, and other structures of privatized wealth; the corporate core network of 1318 transnational corporations form a de facto global structure. The global structure of the worlds largest multinational corporation's with resources of all areas of industry and from all creations of civilization that also consist of the banking institutions that drive the currencies of the world, with a particular emphasis on the global petrodollar system; results in a corporate-monetary system that generates its own conception of wealth, growth, and development that completely negates the thought of "externalities". Also known as the consequences of actions taken by these corporate entities, especially in context to macro level phenomenons and potential large scale repercussions. The global structure systematically installs permanence and legitimacy to plagues of civilization such as inequality, war, poverty, illness/disease, and other repercussions of the privatization of capital extracted through a market system that commodifies resources into capital capable of utilization by the owner of said capital.
The globalization of private capital is as contradictory as it is paradoxical. Its efficiency in transforming resources into capital that is networked rapidly across the globe in systems of consumerism in all areas of life will become its own self-destructive mechanism. The direct association of this defacto world structure has overseen the complete devastation of the world's biosphere through its incompetencies and internal failures, mistakes, and contradictions. But even with these immense failures, the industrial capability and capacity generated has the means of rapidly shifting into a new structure entirely.
The industrial capacity of over a century ago was capable of waging war on a global scale; and was able to repeat on a larger scale twenty years later with an industrial mobilization of war that waged for years. When the United States economy, the basis for which the global economy was later modeled, shifted from domestic production to war industry during the second world war; it only took six months to see a complete shift of priorities. Without a massive realignment of priorities, the global structure of the corporate-monetary system no matter what nation or alliances of nations control the system; will be incapable of solving the issues of the world in a manner that will place proper responsibility and accountability on achieving the tasks at hand, correcting past mistakes/errors, and ensuring the basis of a legitimate world structure. One that is capable of ensuring the collective intentions of the human species towards being wise custodians of the biosphere of Earth.