By: David Korten
This column is the second part of a series. To read Part One, click here.
In Part One, I argued that a healthy society requires that governments be accountable to the people for the well-being of all, and that corporations be accountable to democratic governments.
Last week, Bayer, a transnational drug and pesticide company, secured funding for its $66 billion offer to acquire Monsanto, the world’s largest producer of agricultural seeds. This follows the announced $130 billion merger of chemical giants Dow and DuPont, and ChemChina’s proposed $43 billion purchase of the seed and pesticide firm Syngenta.
Bayer, DuPont, Dow, Monsanto, and Syngenta are five of the world’s six biggest pesticide and seed corporations. There are claims, which I find credible, that the “Big 6” and their products bear major responsibility for pesticide-resistant weeds and insects, and are implicated in impoverishment of small farmers, collapse of honeybee colonies, water pollution, and loss of biodiversity and soil fertility—all serious attacks on the common good. And similar consolidation continues in most every sector of the economy.