Of all organizations, the multinationals come closest to realizing Max
Weber's worst fears with regard to how bureaucratic organizations can
become totalitarian regimes serving the interests of elites, where those in
control are able to exercise power that is "practically unshatterable." Even
though ownership is now widely diversified, and in an idealistic sense
reflects what Peter Drucker calls "pension fund socialism," governance is
still highly centralized. The "owners" are not really in a position to know
what is happening, especially on a detailed level, because multinationals
usually control a network of subsidiary companies. Power is firmly
concentrated in the hands of senior management