Friday, January 1, 2016
Money, money, money
Below is Paul Krugman's comment from the NY Times.
"Modern America is a society in which a growing share of income and wealth is concentrated in the hands of a small number of people, and these people have huge political influence — in the early stages of the 2016 presidential campaign, around half the contributions came from fewer than 200 wealthy families. The usual concern about this march toward oligarchy is that the interests and policy preferences of the very rich are quite different from those of the population at large, and that is surely the biggest problem."
I can't disagree with that. I'd add, though, that some have been surprised at the impact that money has failed to have on the run-up to the primaries. I noticed long ago that extremely well funded candidates in California often lost out. Now Jeb!! has spent the most money among the Republicans (to no avail). In the upcoming Presidential election, Hillary will have one or two billion to run on, money from Wall Street and from the movie and tech industries. (Feel the Bern yet?)
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