People vs Corporations
by Jerome Armstrong, Tue Sep 28, 2010 at 03:11:39 PM EDT
Barry Ritzholtz, The Left Right Paradigm Is Over, discusses a paradigm shift that is happening in politics:
For a long time, American politics has been defined by a Left/Right dynamic. It was Liberals versus Conservatives on a variety of issues. Pro-Life versus Pro-Choice, Tax Cuts vs. More Spending, Pro-War vs Peaceniks, Environmental Protections vs. Economic Growth, Pro-Union vs. Union-Free, Gay Marriage vs. Family Values, School Choice vs. Public Schools, Regulation vs. Free Markets.
The new dynamic, however, has moved past the old Left Right paradigm. We now live in an era defined by increasing Corporate influence and authority over the individual. These two “interest groups” – I can barely suppress snorting derisively over that phrase – have been on a headlong collision course for decades, which came to a head with the financial collapse and bailouts. Where there is massive concentrations of wealth and influence, there will be abuse of power. The Individual has been supplanted in the political process nearly entirely by corporate money, legislative influence, campaign contributions, even free speech rights.
This may not be a brilliant insight, but it is surely an overlooked one. It is now an Individual vs. Corporate debate – and the Humans are losing.
Barry goes on to list a few examples, all of which are spot on. Loyalists want to know why the turn against Obama? This pretty well sums it up:
For those of you who are stuck in the old Left/Right debate, you are missing the bigger picture. Consider this about the Bailouts: It was a right-winger who bailed out all of the big banks, Fannie Mae, and AIG in the first place; then his left winger successor continued to pour more money into the fire pit.
What difference did the Left/Right dynamic make? Almost none whatsoever.
Likely, there are very few people in the partisan blogosphere that see's the world this way. So its not surprising that its from out of the financial blogosphere that this insight comes... If you see the world in terms of Left & Right, you really aren’t seeing the world at all . . .
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