CULTURAL WARFARE

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Wealth and Income Inequalities are Markers of Oligarchy

  • Posted on: 6 June 2011
  • By: Tony Wikrent

Cross-posted from Real Economics. Posted on ePluribus Media at 2011-06-05 22:33:23 -0400. Bumped and promoted. - GH

At the beginning of the American experiment in self-government, concentrations of wealth and large inequalities in income and wealth were viewed suspiciously as dangerously subversive vestiges of the royalty and oligarchies of Europe. But today, conservatives would have us believe, concentrations of wealth and inequalities in income and wealth should be viewed as the natural result of a social Darwinian struggle between those who work hard, and those who do not. Thus are Americans slowly but steadily being led to acceptance of the rise of a new oligarchy,

wages vs productivity
CEO pay vs others

In one of the most famous of the Federalist Papers, No. 10, James Madison discussed the problem of factions, and noted that they most often arise based on economic interests. In preparation for the Constitutional Convention, Madison made notes of the defects of the Articles of Confederation. Vices of the Political System of the United States These short notes amplify and clarify Madison’s thinking on the formation of a new government. Here is a section dealing with the problem of emerging oligarchies:

 

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