Outline the influence of corporate power on society and polities Research Paper

Outline the influence of corporate power on society and polities - Research Paper Example This research essay will analyze how corporations around the world are exerting their sway on the respective governments and societies, and the ways and means to prevent it and how to make them more socially accountable for their actions. Corporate authority and influence naturally are fostered along with commoditization. Corporate authority is employed to nourish policies that kindle commoditized economic development. As these governmental policies are prone to be tilting toward commoditization, corporations wield more or more power, thereby influencing corporate power at all levels towards supporting commoditization. Multinational companies are employing their power to persuade nations to minimize their tariffs, to remove the barriers to investments, to annul or eliminate the rules on repatriating profits out of countries in which they have invested and to lower the corporate tax rates and to offer incentives to foreign investors. The corporate laws around the world are being drafted in such a way that it facilitates to create an atmosphere which is favorable to amass capital and to incorporate and run companies (Costanza, 1999, p.224). With the extraordinary powers which corporations are possessing with through regulations, nowadays they have started to wield their sway on not only governments but also on societies in which they operate. This research essay will analyze the manner and style with which the corporations are exerting their power on the governments and societies, how to prevent them and to make them more socially responsible to the various stakeholders to whom they have to be accountable. The main aim of this research essay is to demonstrate how regulatory capture, i.e. how the interest of the public is sacrificed to the advantage of a corporation and how corporations around the world are exerting influence on the government or regulators.