Wednesday, May 18, 2016

Liberal freedom and neoliberal neofreedom

FDR and other genuine liberals recognized there is no way to have large concentrations of wealth without them influencing politics. The 90% income and inheritance tax rates on the rich weren't intended to generate revenue. They were intended to prevent precisely the concentration of wealth in the hands of the few that we see today. Capitalism for ordinary people is a wonderful thing. Small business is a wonderful thing. But when capital concentrates in someone's hands for any reason, a democratic government must take control of the wealthy individual, or the wealthy individual will soon take control of the government.

Today legislators and regulators are in bed with large corporations in precisely the same way they were in pre-FDR America. We're back in the Gilded Age. History is repeating itself because we have forgotten it. Concentration of wealth in the hands of the few means concentration of state power in the hands of the few, and inevitably degenerates into oligarchy. Voting doesn't really help. Elections are easy to rig. The only way to overthrow the plutocracy is to leave our offices and take to the streets.

When we're all small fish, we can all be free. But freedom for the pike is death to the minnow.

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