When the machinery of governance is ruled by the highest bidders, democracy is dead.
Last week I described the sources of America's America's terminal political dysfunction. The engine of this terminal dysfunction is crony capitalism, the incestuous and oh-so-profitable marriage of the Central State and monied Elites.
Gordon T. Long and I continue our discussion of the perverse incentives and consequences of crony capitalism in a 25-minute video program.
Gordon argues that America's Crony Capitalism closely resembles the Roman Tribute System, an arrangement that skims wealth and concentrates it at the top of the power pyramid.
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
So true and the stock market nowdays is proof of it.Goldman Sachs and the like with their super computers manipulate the market so only the rich get richer.
ReplyDeleteThere is more money to be had controlling the market than producing the product that leads the market.
ReplyDelete