Emergent Plutocracy

.

With respect to the machinations of the banking system bailouts and the changing role of the Federal Reserve in the USA, I am seeingmore and more comments like the following short blog post at Eschaton:

.

Captured

In many ways massive inequality is a symptom of an unjust system rather than something to be considered about in and of itself.

Still, as we’ve seen recently it’s rather obvious a wealthy class has managed to capture the apparatus of government for its own financial benefit.

.

I’d argue that generally people should have seen this coming. 

Paul Krugman wrote a detailed analysis and forecast about the real possibility of this colonization of the  financial landscape in the USA back in October 2002 in a New York Times Sunday Magazine titled "For Richer … "

In case you read the article at the link … long article alert.

But it is worth your time and attention, in my opinion.

I’m a bit strange … I kept a copy of the Sunday Times magazine in which the article appeared, and I know exactly where the magazine is in my storage room.

.

Powered by Qumana

Leave a Reply

Your email address will not be published. Required fields are marked *