“. . . by dividing the shame among them, it is so little apiece that no one minds it.” —Benjamin Franklin
April 21, 2014 1 Comment
Benjamin Franklin thought an absolute monarchy was preferable to an oligarchy:
The arbitrary government of a single person is more eligible, than the arbitrary government of a body of men. A single man may be afraid or ashamed of doing injustice; a body is never either one or the other, if it is strong enough. It cannot apprehend assassination, and by dividing the shame among them, it is so little apiece that no one minds it (“Political Observation.” Franklin’s Sayings. Ebook available from Google Books).
It’s a good thing to be sick now and then to keep us humble. I wonder what David Koch and Alice Walton do when they get a cold that lasts with a fever of 100 degrees for four days. Do they have access to doctors and medications better and more effective than rest of us, or do they suffer, too? I can’t imagine David Koch with a cold.
So I’m writing almost nothing today because I can’t write more. I haven’t written for four days. That in itself is enough to make me sick – crazy, at any rate.
My purpose today is very simple. If I can get one person to listen to the Bill Moyers/Paul Krugman discussion of Tomas Piketty’s book on capitalism in the 21st century, or—better yet—buy the book and read it, I will have done my part in bringing about the beginning of the revolution we need in this country.
If you want to understand the world in this necessary new way, you might look for and read the following academic articles (I realize that academics are suspect and seen as rabid commies or something in the anti-intellectual milieu of this country, but I’ll make the suggestion).
Fukuyama, Francis. “Left Out.” American Interest 6.3 (2011): 22-28.
(Francis Fukuyama is Olivier Nomellini Senior Fellow at the Freeman Spogli Institute of Stanford University.) This article is available online.
“Scandalous as it may sound to the ears of Republicans schooled in Reaganomics, one critical measure of the health of a modern democracy is its ability to legitimately extract taxes from its own elites. The most dysfunctional societies in the developing world are those whose elites succeed either in legally exempting themselves from taxation, or in taking advantage of lax enforcement to evade them, thereby shifting the burden of public expenditure onto the rest of society” (Fukuyama).
“Another set of ideas was of even more direct help to the wealthy: Reaganomics. Supply-side economics provided a principled justification for the rich paying lower taxes on the grounds that entrepreneurial incentives unleashed by lower marginal tax rates would not merely trickle but pour down both via public finance and through the creation of employment. This argument was likely true at the near 90 percent marginal rates that prevailed after World War II, but those rates were reduced in several waves beginning in the 1960s. Clinton’s tax increases of the early 1990s brought rates up only slightly, and didn’t have the growth-killing effects widely predicted by Republicans—just the opposite, they preceded one of the great economic expansions of recent memory. The benefits of the Bush-era cuts flowed overwhelmingly to the wealthy, and yet were promoted on the grounds that lower rates would redound to everyone’s benefit. This is still a gospel that many people continue to believe, including, oddly enough, all too many of those left
“Too Important for Clever Titles — Scientific Study Says We Are an Oligarchy (Update).”
Daily KOS (Mon Apr 14, 2014)
Piketty, Thomas, and Emmanuel Saez. “Top Incomes and The Great Recession: Recent Evolutions and Policy Implications.” IMF Economic Review 61.3 (2013): 456-478.
This article is available online.
Spitz, Janet. “Intentioned Recession: An Ideologically Driven Re-Structuring.” New Political Science 33.4 (2011): 445-464.
This article is available online.