Accounts Quote by Patricio Aylwin
“…the globalization that characterizes today's economics goes beyond or eludes the sovereignty of individual states, and thus the power of their rulers. It is not they, but rather financial groups in control of vast amounts of capital, who decide upon their vertiginous passage through nations, without taking into account the serious crises they might generate.”
About This Quote
Source Speech: Remarks on Globalization, 1995
Economic power has shifted from nation‑states to multinational financial entities, undermining sovereign control and creating systemic risks.
In simple terms: Money controls politics more than governments.
Key Takeaway
Recognize and regulate financial power.
Themes
globalization
sovereignty
financial power
risk
policy
Mood
concerned
critical
analytical
Type
political
economic
When to use this quote
- government policy
- investment decisions
- regulatory reforms
- public awareness
Key Concepts
capital concentration
political economy
systemic risk
Questions to Reflect On
- How does financial concentration affect democratic accountability?
- What mechanisms can restore state influence over capital?
A Different Perspective
Financial groups may also be constrained by market forces and political pressure.
