Monday, February 27, 2006
Krugman sees the coming Oligarchy.
Do you? Read his column today so you will know what to look for.
Should we be worried about the increasingly oligarchic nature of American society? Yes, and not just because a rising economic tide has failed to lift most boats. Both history and modern experience tell us that highly unequal societies also tend to be highly corrupt. There's an arrow of causation that runs from diverging income trends to Jack Abramoff and the K Street project.This is most certainly NOT an fnord.
And I'm with Alan Greenspan, who — surprisingly, given his libertarian roots — has repeatedly warned that growing inequality poses a threat to "democratic society."
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