Blog Link, The Road to Oligarchy
I wrote about Capitalism and Socialism here, but this is better ==>>. A hat tip to GreyEnigma, who is on my blogroll, where he points to Sultan Knish and The Road to Oligarchy. Our economy is dying and we can’t go forward or backward. Here is a snip from Knish-
Regardless of how many wars on poverty are declared and how often calls are issued to make the rich pay their fair share, neither the rich nor the poor will be going anywhere anytime soon. The question is what forces will keep the poor impoverished and where the rich will derive their wealth from.
The founder of Subway recently said that he could not have started up his company today. Similar messages have come from the founders and heads of other major companies. That isn’t to say that companies will cease to exist. What we think of as business has been changing for some time. In most countries, starting a business does not begin with a great idea. It begins with connections. Knowing the right people is still important, but in most places it’s the most important thing.
Under the current American model, a company becomes successful and then begins to lobby Washington to gain a competitive advantage or to avert hostile lobbying directed at negating its existing competitive advantage. That is a perversion of free enterprise, but in much of the world companies begin lobbying first and then become successful. This is the model that has evolved under Obama. And it’s a familiar model to anyone doing business in Russia or China. Political connections come first and then the business becomes feasible.
Go read the rest. Forward Comrades!