EVERY human generation has been pulled toward the shape of a - TopicsExpress

EVERY human generation has been pulled toward the shape of a pyramid with a narrow oligarchy owner-caste at the top able to hire all the thugs they need, in order to cheat and collect rents and stay on top… exactly the scenario that Adam Smith denounced as the great ruiner of enterprise across 6000 years… … and against which the American founders rebelled. Attempts to solve this inherently human attractor state failure mode have ranged from simplistic… like socialism/communism, which simply installed another oligarchy… ...all the way to the subtle American experiment, which refreshes the rules each generation, so that wealth can be a capitalist allure WITHOUT becoming a vehicle for oligarchic cheating. Every generation of Americans tweaked and solved this problem in ways that preserved flat-competition to some degree, while keeping feudali-oligarchy at bay. That is… except this dullard pack of morons we now have as politicians and media, many of whom actually swallow the line about job-creators and supply side nonsense that Adam Smith laughed at. Look at Smiths denunciation of rent-seeking the most unproductive use of capital that drives property bubbles and creates nothing. TODAY a report came out that young couples with good credit cannot buy houses because the good ones are all snatched up by cash buyers, who then rent them out. Now envision that. A vast fraction of the available housing stock being snatched up by a few thousand folks with far more cash than they know what to do with… seeking… rents. And you see nothing worrisome? And you think Adam Smith - the founder of capitalism - wasnt right to denounce and worry about stuff like that? How about if 1% own 50% of the housing, would THAT elicit worry? How about 0.1% owning 75%? Or 0,01% owning 90%? Is there ANY threshold that would make you say… okay, pyramidal oligarchy is coming back: time for a re-tweaking… lest we foment revolution. Its late. Wealth disparities already match 1789 France. Unions are plummeting and civil servants are diminishing… yet THEY are the objects of fret and worry. Riiiiiiiight.

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