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You have a point, although there again, it could be that what you are seeing is a wave of technological change which enhances the earning power of the rich firs
by olefoo 18y ago
You have a point, although there again, it could be that what you are seeing is a wave of technological change which enhances the earning power of the rich first and then diffuses out to the rest of society.
I do think that the hypothesis that wealth disparities in the US are a product of massive corruption is not one to be dismissed lightly given the ongoing socialization of the costs of bailing out failing banks...
- drewcrawford 18y agoI would agree with you, on the whole, that some wealth disparities in the US are the product of government corruption. Of course, in order for a government to become corrupt it must first become powerful enough to be worth corrupting. It is my observation that governments most rapidly gain power as a reaction to perceived economic disparity: the New Deal, SOX, the IRS, the SEC. These were all once government 'solutions' to economic inequality and remain today some of the most powerful (and arguably, corrupt) organizations in the world. I would argue that almost any time you find a corrupt organization generating illicit wealth, you will also find a well-meaning person who proposed the creation of that organization to 'solve' economic disparity. It is true that there are wealth disparities that are created through government corruption, especially in the short term. But historically that corruption is ultimately enabled (perhaps accidentally) by those overly concerned with the problem of wealth disparity.