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Capitalism, and particularly the ownership aspect, is very conductive to the tradition of hierarchal, aristocratic distribution of status and power. Formally, democracy politics offers egalitarian, participatory balances of power. But fully "wild" financial capitalism seems to introduce its hierarchy in very short time. In particular, it takes over the political aparatus to serve stingy needs. Plus, the evolutionary history supplies ready psychological roles both for alphas and the misserable.
by das monde on Tue Apr 15th, 2014 at 05:37:41 AM EST
Case in point: The US, courtesy our glorious SCOTUS awarding elections to the highest bidder.
by rifek on Tue Apr 22nd, 2014 at 04:52:57 PM EST
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I am starting to pay attention to Piketty's work.

The inequality "r>g" is actually the hidden engine for the wealth and status differentiation.

Competition is often cited as the most glorious aspect of capitalism. Sustained competition is indeed attractive, even in the inequality aspect. But once competition leads to long-term loosers and winners, it is then an inequality force like no other. Plus, labour competition and capital competition are very different (especially now), enforcing the "r>g" mathematics.

by das monde on Thu Apr 24th, 2014 at 06:23:05 AM EST
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