Global balance of power in the age of techno-oligarchy and the role of corporations

In his article on Odatv, Mahmut Özer, departing from discussions surrounding Daron Acemoğlu, examines the shift of power from states to technology companies in today's world and the political, economic, and democratic risks spawned by the age of techno-oligarchy.

The Changing of Power Relations

For many years, the fundamental issue of political science has been the power relations between state and society, power and opposition. Although these dynamics remain valid today, the digitization and artificial intelligence revolution are creating new and powerful actors in the equation.

The East India Company Analogy

Although historically established for trade purposes, the East India Company eventually acquired an army and transformed into a sovereign power. Today, SpaceX, with its limited controllability, is arriving at a similar position.

Infrastructure and Geopolitical Impact

While Starlink, controlled by SpaceX, provides communication on battlefields, Starshield can be utilized in military operations. The decisions of private companies affect the geopolitical capacities of states.

New Generation Technology Elites

The power of the new technology elites stems not only from their wealth, but also from their control over digital infrastructure, data, algorithms, and artificial intelligence. For the first time, economic, technological, and informational power are converging in the same centers.

Lack of Democratic Oversight

While modern democracies are limited by the separation of powers, mechanisms to oversee this new power exerting influence over society do not exist. Decisions are made not in parliaments, but in the boardrooms of technology companies.