When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Tuesday, May 6, 2014

The US is an Oligarchy

Democratic Republic? The US is an oligarchy - Report by researchers from Princeton and Northwestern Universities indicates that US political system serves special interest organisations, instead of voters:

"The US government does not represent the interests of the majority of the country's citizens, but is instead ruled by those of the rich and powerful, a new study from Princeton and Northwestern Universities has concluded. The report, entitled Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens, used extensive policy data collected from between the years of 1981 and 2002 to empirically determine the state of the US political system. After sifting through nearly 1,800 US policies enacted in that period and comparing them to the expressed preferences of average Americans (50th percentile of income), affluent Americans (90th percentile) and large special interests groups, researchers concluded that the United States is dominated by its economic elite." http://www.telegraph.co.uk/news/worldnews/northamerica/usa/10769041/The-US-is-an-oligarchy-study-concludes.html

Has the West fallen prey to crony capitalism? - Telegraph: " . . . A new study by researchers at Princeton and Northwestern universities, which claims to demonstrate that public policy in the US is unduly influenced by the rich and powerful, rather than representing the wishes of the majority – a statement of the blindingly obvious if ever there was one – is just the latest example of this kind of world view, building as it does on the generally rave reviews for a new book by the French economist, Thomas Piketty, showing that capital accumulation has been growing at a much faster rate than wages and the economy as a whole...."


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects