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> decline in interest rates and corporate tax rates mechanically explain over 40 percent of the real growth I interpret that as : "capitalists have taken over

• WJW 2y ago
  That's what you want to read. All the paper says is that interest rates and corporate tax rates have fallen over the past three decades. There were a variety of reasons for that, only some of which had anything to do with capitalists in the government.
• deleted 2y ago
  [deleted]
• AndrewKemendo 2y ago
  That is correct. Well documented and the Princeton oligarchy study [0] cemented what left wing authors have pointed out for decades. [0] https://www.bbc.com/news/blogs-echochambers-27074746.amp https://www.bbc.com/news/blogs-echochambers-27074746.amp
  • carapace 2y ago
    From the abstract of the paper: > Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence. https://www.cambridge.org/core/journals/perspectives-on-politics/article/testing-theories-of-american-politics-elites-interest-groups-and-average-citizens/62327F513959D0A304D4893B382B992B https://www.cambridge.org/core/journals/perspectives-on-poli... However, it's not correct that "capitalists have taken over the control of our governments" (unless you're speaking as British royalty of the American Revolution, eh?) rather they set up the governments in the first place.
    • AndrewKemendo 2y ago
      I’m totally on board with the idea that we were never a valid democracy - and effectively a defacto oligarchy - to begin with
      • lurking15 2y ago
        Oligarchy is the unavoidable state of human society, even in communism as it’s ever been instantiated you have oligarchy
        • AndrewKemendo 2y ago
          This claim is historically inaccurate Do you have an epistemological elucidation of your claim?
          • lurking15 2y ago
            I don't know look at any organization in humanity, the most obvious one is what happened with the Democrat party, Biden is undeniably feeble and there was an entire oligarchic effort to deny that reality even during his 2020 campaign. We're told democracy is in peril if Kamala doesn't win when she's never been successfully entertained in a primary, in fact she's only lost with near zero support. That's apparently "popular will" when it's by now obviously nothing more than manufactured consent. If you want more rigorous work, read up on Elite theory: https://en.wikipedia.org/wiki/Elite_theory https://en.wikipedia.org/wiki/Elite_theory
            • AnimalMuppet 2y ago
              It's "the unavoidable state of human society" because there is a theory in philosophy, political science, and sociology, and that theory has some people advocate for that theory? That's not evidence. There are multiple other, conflicting, schools of philosophy and sociology, all of which have people that advocate for them. Got any evidence?
• GordonAShumway 2y ago
  No, not really --it means financial engineering became more important than actual engineering for stock valuations.