Wednesday, December 12, 2018

Inequality and Stupid Presidents

The Republican Party had been on track to spit up something like Trump for quite some time. Inevitable without a course correction that never came. One party shitting the bed with their nominee usually means a brutal loss. 

I know, I know. Electoral college luck. Clinton Mehs. Clinton team too comfy.Two counties in Wisconsin that decided what the hell lets see what happens. Angry white dudes. Crazy white evangelicals. Etc. But we shouldn't ignore this because didn't help.

High inequality has also political effects. The rich have more political power and they use that political power to promote own interests and to entrench their relative position in the society. This means that all the negative effects due to exclusion and lack of equality of opportunity are reinforced and made permanent (at least, until a big social earthquake destroys them). In order to fight off the advent of such an earthquake, the rich must make themselves safe and unassailable from “conquest”. This leads to adversarial politics and destroys social cohesion. Ironically, social instability which then results discourages investments of the rich, that is it undermines the very action that was at the beginning  adduced as the key reason why high wealth and inequality may be  socially desirable.

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