The Swiss bank UBS produces a global report annually that includes an analysis of the distribution of wealth within countries. I never cease to be amazed by the stark difference between the US and China. The wealth in the US is totally skewed to a very high percentage held by very few. Whereas in China that effect is relatively very small and the very poor is also relatively small. Overall what you could describe as 'middle class' in China dominates. No wonder that the global majority look at that and aspire to follow.
A 2011 study by Gilens (Princeton) and Page (Northwestern University) found that US was already an oligarchy:
"Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence."
Was the geographic spread analysed as I'd be fascinated to see the changes, the "Rich men from Richmond". It seems that wealth shifted from those who made (manufactured) stuff to those in the FIRE sector. I agree the veneer of democracy across the west is only present to cover the reality of oligarchy. It's interesting because every western country has gone down the same road of larger government (which includes contractors etc) and off shored production with an ever increasing share towards financial instruments.
Were politicians ever "used to be accountable to us?" They just strived harder in the past to keep this illusion, but now, they simply dropped all the pretense.
The Swiss bank UBS produces a global report annually that includes an analysis of the distribution of wealth within countries. I never cease to be amazed by the stark difference between the US and China. The wealth in the US is totally skewed to a very high percentage held by very few. Whereas in China that effect is relatively very small and the very poor is also relatively small. Overall what you could describe as 'middle class' in China dominates. No wonder that the global majority look at that and aspire to follow.
It's reasonable to say that on a practical basis, if wealth is highly skewed to the few, you are no longer living in a democracy.
A 2011 study by Gilens (Princeton) and Page (Northwestern University) found that US was already an oligarchy:
"Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence."
The next step is fascism.
Was the geographic spread analysed as I'd be fascinated to see the changes, the "Rich men from Richmond". It seems that wealth shifted from those who made (manufactured) stuff to those in the FIRE sector. I agree the veneer of democracy across the west is only present to cover the reality of oligarchy. It's interesting because every western country has gone down the same road of larger government (which includes contractors etc) and off shored production with an ever increasing share towards financial instruments.
Yeah, it's like the western oligarchs feel manufacturing is beneath them. Derivatives now, that's the ticket.
Those values are so refreshing. Isn't it the way many of us go about our lives? Courtesy, etc. make life so much more enjoyable.
Having an adversarial government sucks ass. Nothing ever gets fixed because the politicians would have nothing to run on.
The politicians used to be accountable to us, now they're accountable to private interests who back their next run.
The Banks used to count money and lend to entrepreneurs who have a good business plan. Now it's exotic financial instruments with risk.
Yes, it's a casino run by insider "families" who ensure the house always wins. In other words it's the "big club"
Were politicians ever "used to be accountable to us?" They just strived harder in the past to keep this illusion, but now, they simply dropped all the pretense.
Yep.
The Chinese citizen: 'How can I live more in harmony with everyone, for the good of all?'
The Western citizen: 'Don't tell me how to live, I have the freedom to do what I want.'
It's not hard to see which societal mindset has a future and which does not.