{"id":37418,"date":"2018-09-06T06:41:35","date_gmt":"2018-09-06T11:41:35","guid":{"rendered":"http:\/\/olduvai.ca\/?p=37418"},"modified":"2018-09-06T06:41:49","modified_gmt":"2018-09-06T11:41:49","slug":"plutocracy-now","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=37418","title":{"rendered":"Plutocracy Now!"},"content":{"rendered":"
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Plutocracy Now!<\/a><\/h3>\n<\/header>\n
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The United States today qualifies as a plutocracy \u2013 on a number of grounds, and it is having a profound impact on the media, education and think tanks\u2013indeed on the whole of society, says Michael Brenner.
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Plutocracy literally means rule by the rich. \u201cRule\u201d can have various shades of meaning: those who exercise the authority of public office are wealthy; their wealth explains why they hold that office; they exercise that authority in the interests of the rich; they have the primary influence over who holds those offices and the actions they take.<\/p>\n

These aspects of \u201cplutocracy\u201d are not exclusive. Moreover, government of the rich and for the rich need not be run directly by the rich. Also, in some exceptional circumstances rich individuals who hold powerful positions may govern in the interests of the many, for example Franklin Roosevelt.<\/p>\n

The United States today qualifies as a plutocracy \u2013 on a number of grounds. Let\u2019s look at some striking bits of evidence. Gross income redistribution upwards in the hierarchy has been a feature of American society for the past decades. The familiar statistics tell us that nearly 80 percent of the national wealth generated since 1973 has gone to the upper 2 percent and 65 percent to the upper 1 per cent. Estimates for the rise in real income for salaried workers over the past 40 years range from 20 percent to 28 percent. In that period, real GDP has risen by 110 percent \u2013 it has more than doubled.<\/p>\n

To put it somewhat differently, according to the Congressional Budget Office, the top earning 1 percent of households gained about 8 times more than those in the 60 percentile after federal taxes and income transfers between 1979 and 2007 and 10 times those in lower percentiles.<\/p>\n

In short, the overwhelming fraction of all the wealth created over two generations has gone to those at the very top of the income pyramid.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Plutocracy Now! The United States today qualifies as a plutocracy \u2013 on a number of grounds, and it is having a profound impact on the media, education and think tanks\u2013indeed on the whole of society, says Michael Brenner. Plutocracy literally means rule by the rich. \u201cRule\u201d can have various shades of meaning: those who exercise […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[6963,379,11470,13782,2238,827,868],"class_list":["post-37418","post","type-post","status-publish","format-standard","hentry","category-liberty","tag-consortium-news","tag-government","tag-influence","tag-michael-brenner","tag-plutocracy","tag-united-states","tag-wealth"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37418"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37418\/revisions"}],"predecessor-version":[{"id":37419,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/37418\/revisions\/37419"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}