Babylon the Great was a powerful
economic empire. When describing her fall, John warned that the merchants
of the earth will mourn for her.
The merchants of the earth will weep and mourn over her because no one
buys their cargoes anymore—cargoes of gold, silver,…horses and
carriages…They will say, ‘The fruit you longed for is gone from you.
All your luxury and splendour have vanished, never to be recovered.’ The
merchants who sold these things and gained their wealth from her will
stand far off, terrified at her torment (Rev 18:11-15).
The “merchants of the earth” are business organisations that
operate throughout the world. We call them multi-national corporations.
Collusion with Babylon the Great enables them to gain enormous economic
power. These rich people control the trade in everything from minerals to
vehicles.
In the last century, the power of the large multi-national corporations
has increased enormously. Modern communications allow a single corporation
to control a virtual empire that is greater than the Old Testament
empires. For example, General Electric controls vastly more resources than
would have been controlled by the Roman or Babylonian emperors.
Modern capital has no country. For example, a pair of Nike shoes can be
designed in the United States, manufactured in China, marketed from
France, and shipped to Russia. If local laws are not acceptable, capital
will leave and find a place with laws that give them the freedom that they
want. Large business organisations can and determine the rise and fall of
smaller nations.
Multi-national corporations can often avoid the laws of nations. If
they do not like the laws in one place, they will shift to another where
they will be treated better. Economic power has shifted, but no one person
has control of this empire. These multinational corporations operate
independently, but pursue a common goal and purpose. Their authority is
invisible, as they work through strategic alliances, rather than direct
control.
American Economic Power
In the last part of the twentieth century, American capitalism has
grown on an unprecedented scale to become the greatest economy the world
has known. A number of large United States-based multinational
corporations and financiers now dominate the world economy. The United
States is the dominant global economic power.
Thr dominance of the United States is set to continue into the future,
as it undertakes half of the research and development done throughout the
world, more than the research and development expenditure of the next
seven richest counties combined. The United States is the most popular
destination for the world’s best scientists and trained foreign workers.
The population of the United States is younger and growing fast, whereas
the population of Europe is ageing and declining.
Globalisation
John also warned that Babylon the Great would emerge during a time of
expanding world trade.
Every sea captain, and all who travel by ship, the sailors, and all who
earn their living from the sea, will stand far off…
all who had ships on the sea became rich through her wealth (Rev
18:17,19)!
Globalisation is the modern name for a season when ship owners become
wealthy though trade.
A burst of globalisation got underway at the end of the twentieth
century was made possible by a number of changes that emerged.
Land air and sea transport has improved enormously.
Shipping costs have been reduced enormously by containerisation.
Goods can be shipped from anywhere in the world for a small cost.
National governments have reduced tariffs and other trade barriers.
Communications have improved to such an extent that a message can be
sent instantly to anywhere in the world.
Computers and information technology have given corporations the
ability to manage large volumes of information.
As the science of management has advanced, the size of the business
that can be managed as one unit has grown.
Management has been separated from ownership, allowing the interests
of the business to be pursued without constraint.
Limited liability laws have allowed corporations to become immense.
Modern mangers are citizens of the world. To climb the corporate
ladder, they have to work in different countries, so they have no loyalty
to a particular nation.
The power of television has given large corporations ability to
create worldwide demand for their products.
Modern business activities are very capital intensive. Large and
powerful financial intermediaries emerged to supply this capital.
All these factors have contributed to the rise of American economic
power.