Variations of this idea are New World Order or One World Government. I have read a few sites debunking this idea and I think some have a wrong idea of what many conspiracy theorists are trying to state. I do not think of a James Bond movie scenario where Blofeld is sitting in a throne petting his cat ruling the world. I also don't think it will be a world head of one state either.
However, we do see a rather interesting rise of power that is unchecked. It is visible throughout the world and does have say over many elections especially that of the United States. I am talking about Multinational Corporations. They have no borders, have trillions of dollars in assets and have millions of people working for them. They make decisions that can affect billions of people in the world. They set up their own PACs and do not have to tell where the money is coming from. A billionaire from China or Russia can start one and elect many people to pass their agendas. We just do not know.
We do know they want to weaken all the regulations that hamper their money making. We have seen where they control the decision making by withholding funds or making sure they get their own cronies elected. They use scare tactic ads which work. They call themselves Tea Party or Progressives. George Soros on the left is just as mysterious as some of them from the right. Yet, he spends millions electing people like Bloomberg into office.
Again, corporations are seen everywhere. We go to the grocery store and are told we have many options. And yet, when you trace many companies you find out they are owned by the same few.
No, it is not going to be a One World Government like some people think. It already is a One World Monopoly by a few gigantic corporations run by a few very powerful families.