11 posts tagged with plutocracy.
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How to fix inequality: Squash the finance industry and redistribute more

Joe Stiglitz on Inequality, Wealth, and Growth: Why Capitalism is Failing (video; if you don't have 30m, skip to 20m for discussion of political inequality, wealth, credit and monetary policy) - "If the very rich can use their position to get higher returns, more investment information, more extraction of rents, and if the very rich have equal or higher savings rates, then wealth will become more concentrated... economic inequality inevitably gets translated into political inequality, and political inequality gets translated into more economic inequality. The basic and really important idea here is that markets don't exist in a vacuum, that market economies operate according to certain rules, certain regulations that specify how they work. And those effect the efficiency of those markets, but they also effect how the fruits of the benefits of those markets are distributed and the result of that is there are large numbers of aspects of our basic economic framework that in recent years have worked to increase the inequality of wealth and income in our society... leading to a society which can be better described, increasingly, as an inherited plutocracy." [more inside]
posted by kliuless on Jun 2, 2015 - 27 comments

'We Are Koch'

Kochs Plan to Spend $900 Million on 2016 Campaign - "an unparalleled effort by coordinated outside groups to shape a presidential election that is already on track to be the most expensive in history... These donors represent the largest concentration of political money outside the party establishment, one that has achieved enormous power in Republican circles in recent years. Now the Kochs' network will embark on its largest drive ever to influence legislation and campaigns across the country, leveraging Republican control of Congress and the party's dominance of state capitols to push for deregulation, tax cuts and smaller government."
posted by kliuless on Jan 27, 2015 - 77 comments

Affluence and Influence

Gilens and Page analyze 1,779 policy outcomes over a period of more than 20 years. They conclude that “economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while mass-based interest groups and average citizens have little or no independent influence.” Average citizens have “little or no independent influence” on the policy-making process? This must be an overstatement of Gilens’s and Page’s findings, no? Alas, no... (pdf)
posted by anazgnos on Apr 12, 2014 - 34 comments

McCutcheon v. FEC

Supreme Court to consider lifting campaign contribution limits. Reversing McCutcheon v. Federal Election Commission would allow unlimited individual campaign contributions.
posted by kliuless on Oct 7, 2013 - 101 comments

"there were echoes ... of a Gilded Age critique of plutocracy"

Before Greed: Americans Didn't Aways Yearn For Riches. A response: An Embarassement Of Riches: Literature And The Ethics Of Wealth In The Gilded Age. Both from Boston Review. [more inside]
posted by the man of twists and turns on Mar 7, 2013 - 19 comments

The untouchables

Wall Street's leaders have utterly escaped jail. "There have been no arrests of senior Wall Street executives." Frontline examines why the United States federal government didn't go after the financial titans. (via)
posted by doctornemo on Jan 23, 2013 - 159 comments

Prime Time for Socialism

The US does not have a spending problem, we have a distribution problem "Forty years from now, America will be twice as rich on average as we are today. But most of that wealth will go to the very richest households. We only have a budget crisis if they refuse to pay higher taxes... So the real point isn't that we can't afford Social Security and Medicare. It's that some people don't want to pay the higher taxes necessary to maintain Social Security and Medicare. This is a question of distribution, pure and simple."
posted by bookman117 on Nov 20, 2012 - 53 comments

What's wrong and how to fix it.

It’s not as though as a society we have become that much stupider than our forbears; it’s because we have become that much more corrupt.

Adam Garfinkle
discusses American political dysfunction in one, two, three parts.
posted by Shit Parade on Oct 27, 2012 - 13 comments

Buying useful things, like roads and universities and health care and solar energy and spaceships, should be better stimulus than fighting wars.

"Liberals have not always been very good at communicating why liberalism works. There’s many reasons for this, but part of it is that it can be hard to defend the obvious from an absurd and deceptive attack. For half a century you had to be a crank to oppose what Roosevelt accomplished; liberals got out of the habit of arguing for their beliefs. I hope this page will help. Liberals don’t need to apologize for their vision of how American society should work. Liberalism saved American capitalism and democracy, defeated Naziism, created a prosperous middle class, and benefited every sector of society, from the back streets to Wall Street. " Mefi's own Zompist (previously) on Why Liberalism Works.
posted by The Whelk on Sep 30, 2012 - 109 comments

Citizens United: the impact.

Red money, blue money: The making of the 2012 campaign. "More than 80 percent of giving to Super PACs so far has come from just 58 donors, according to the Center for Responsive Politics analysis of the latest data, which covers the first half of 2011." This Salon piece details who the (surprisingly small) number of large donors are, and the SuperPACs they donate to.
posted by jaduncan on Dec 14, 2011 - 18 comments

Welcome To The Plutocracy

Bill Moyers delivers the first Howard Zinn Memorial Lecture at Boston University, from Oct 29, 2010. (video runs 2 hours, transcript of speech) [more inside]
posted by hippybear on Nov 7, 2010 - 25 comments

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