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Government Of The Rich, By The Rich, For The Rich


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This is the distinction the bankers fail to make- they conflate people attacking their pay with 'the politics of envy' but that's not correct- what people object to is the fact that they suspect this income has been achieved through dishonest means, via a rigged and corrupt system.

The perceived failure of the political class to control the bankers is damaging on two levels- firstly it destroys the link between effort and reward that forms the moral basis of the work ethic, second it makes explicit that which is normally only implicit- the fact that wealth controls the process.

Although it's simplistic to extrapolate ones own experience too widely, I can detect in myself a real deterioration in attitude toward the idea of playing by the rules. If I am symptomatic of a wider shift in the population at large, this cannot be a good thing.

The reason the bankers need to be controlled is not primarily a practical one, it's about the idea that the game is a fair one and it's rules apply to all.

This is a deliberate part of capitalist ideology. Push the idea that wealth comes from risk-taking, ingenuity and hard-work so that you can distract attention from all the rent-seeking.

This distraction is the main reason the wealthy need an ideology at all.

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Guest UK Debt Slave

Well, as you know governments only steal wealth.

Nick a pound each from millions, hey presto 1 rich guy is created. So influence in government can make you rich very easily. It's in the interests of the other rich folks to get chummy with the biggest thief on the block, for obvious reasons i.e. they'd much rather the thief was nickel and diming everyone else rather than taking great big swipes out of the riches cash.

It's more or less the reason the tory party still exists.

Just maybe.........

Some politicians start off with honest intentions..................

But then, when they realize how easy it is to get fat off the labour of others, the temptation for self aggrandisement is just toooooooo easy and toooooo profitable to ignore!

Human nature huh? It's a terrible thing!

It's also why socialism always fails, because the temptation to game the system in ones own favour is always too seductive to pass.

Ahhhh yes! Maybe I could redistribute some of this wealth to...............ME!

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http://www.economist.com/blogs/freeexchange/2011/02/political_economy

blog_gilens_rich_poor.jpg

I think it's pretty simple. If vote a passes 1 million people might lose 1 pound each and 1 person might get that £1,000,000 transfered to their bank account. Therefore it's massively in the would be rich guys favour to lobby like a *******, but all the people who lose a pound? Looks like a waste of their time to lobby.

Hi Injin, yes, yes, yes got all that

But what's you're view on house prices :)

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This is a deliberate part of capitalist ideology. Push the idea that wealth comes from risk-taking, ingenuity and hard-work so that you can distract attention from all the rent-seeking.

This distraction is the main reason the wealthy need an ideology at all.

Don't generalise. I know plenty of wealthy people who draw no rent at all.

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Don't generalise. I know plenty of wealthy people who draw no rent at all.

Obviously I am generalising, but I stand by what I said.

If you take away anything with involving patents, copyright, land or natural resources, and get rid of aristocrats and bankers, then I would say that takes care of quite a few multi-millionaires.

Those are just the uncontroversial ones.

For example lawyers, doctors - rent seekers or wealth creators? Both.

Then you have the people running major corporations. You could make a case that they are appointed through nepotism and simply take a rent from the work of their employees, but I will admit that this is not clear cut.

Deliberate obfuscation of these activities is why I will never be a 'capitalist'.

Edited by (Blizzard)
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Guest sillybear2

"To put this slightly differently, we all know rich people on the left side of the political spectrum who care passionately about the poor and have no problem supporting policies that aren't necessarily in their own direct interest. These people exist. But the Democrats who end up in Congress tend not to be these people; they're the kind of people who respond to the preferences of the rich. Who knows what their motivations for doing so are"

Err... bribery?

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This

Legislators worried about the poor often have to cut deals to satisfy the rich people who support their campaigns and other critical institutions. Legislators worried about the rich basically never have to make these kinds of concessions. Money, by creating this asymmetry, gets what it wants much more often.

seems to be the key point...

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It was a good article.

There is always in a civilization a gravitational force that pulls the periphery towards the core, otherwise, there would be no civilization, just injnworld, a brownian motion of people-particles doing their own thing. The force might be money or religion or racism or in 100 years god knows what else.

But then, a cloud of particles engaging in brownian** motion in deep space, once it gets big enough, will collapse to a core, which in turn accumulates satellites.

Sooner or later, the core destabilises and disperses back to the brownian cloud. Guess what happens next?

Cultural gravity - it exists, independant of any silly ideologies..

** actually you can't have brownian motion in space I don't think, but you know what I mean

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