Wednesday, April 23, 2014

Tales of Oligarchy

Greetings, fellow 99%ers!

In case you haven't heard of their study , economic researchers Gilens and Page have studied decades worth of economic and political data and have found that in essence,we are living in an oligarchy.
An oligarchy - where the elites and privileged control policy.  In fact, their conclusion is that unless the policy preference of the 99%  is aligned with the preference of that infamous 1%, the policy has little chance of being adopted.  In the article I linked to, there is a link to their pdf document.  I will be going through that and trying to digest their data and arguments.  It's not that long and at first glance seems to be fairly readable.
French economist Thomas Piketty has garnered a lot of notoriety for his book, Capital in the Twenty-First Century, in which he explains that we are rapidly heading toward oligarchy or are already there.  He argues that rising wealth inequality threatens capitalism itself.
I've long thought that greed would wreak havoc on us; well, greed and complacency.  We've continued to not challenge policies that enable the elite to control all the shots.
Now for a truly disturbing display of oligarchic privilege, read about this event   Sorry about the title of the post, but I didn't write it.
I just don't understand why more people aren't up and arms over this sad state of economic affairs.

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