Reply To: (Is this really ) How Capitalism is Killing Itself?


Home Forums Discussion Forum (Is this really ) How Capitalism is Killing Itself? Reply To: (Is this really ) How Capitalism is Killing Itself?

#33611 Reply

Ba’al Zevul

Cronyism: Yes, that’s my reading of the issue – I stress mine. The term being used currently is ‘crony capitalism’ and that’s pretty well the definition of it as far as I can see. Governments act in accordance with the requirements of oligarchical financial concerns to maximise the benefits to both. See also ‘revolving door’…

I earned it: I guess if you asked Wolff he’d actually be glad to clarify the matter. My gloss on it would be that the ‘wealth’ created (this is Reaganomics, isn’t it?) is more or less illusory in practice, since the financial underpinning of the present economic structure is a Ponzi scheme. In which the people at the bottom of the pyramid are always the losers. Also, and I know Wolff would also mention this moral argument, does sitting on your fat arse on a yacht, watching the wealth roll in at the behest of your accountant, really qualify as ‘earning’? OK, some wealth trickles down to your accountant…