Power Without Control

Who Governs When No One Is in Charge?

Power in the 21st century is no longer exercised primarily through visible institutions, territorial control or formal authority. It resides increasingly in infrastructures — financial, digital, logistical and informational — that organize modern life while remaining largely invisible to those who depend on them.

This dossier explores how governance, sovereignty and accountability are being reshaped in an age where systems coordinate outcomes beyond the control of any single actor. From capital markets and risk platforms to algorithmic decision-making and geopolitical dependencies, the series examines a central paradox of our time: stability without command, influence without ownership, power without control.