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Friday
Aug142009

Emergent Plutocracy 

DateFriday, August 14, 2009 at 6:35PM

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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:


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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.


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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.


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