Rising Wealth Inequality and the Growth of an Ecosystem of Fake
Political forces at work at a national level were highly important
in determining how incomes have become distributed after the major changes of
the early 1980s in the English speaking economies. A universal trend of
increasing inequality everywhere would be in line with the notion that
inequality is determined primarily by global market forces and technological
progress. However, the reality of two markedly different inequality trends,
namely the “Anglo-U” versus the “Euro-L” suggests that institutional and political
frameworks in different countries have played a substantial if not dominant role.
In other words, inequality is not inevitable, it has in fact been driven by policies
and actions.
1. The Free Market nonsense was an invented fraud and a con with a
specific purpose (see 2):
2. There is a globalised free running world superior elite which is well on it' way to taking over.
However, for the Thiels, Bannons, Erdogans, Putins, Mercers, Orbans and
Cummings of this world in 2019, these "Satyas" (Sanskrit eternal
virtue of Truth) do not matter. Meek, weak little people can write and say
millions of words pointing out real Satyas, signalling the virtues again and
again, because The Autocrats believe that the severe and clear
"disconnect" between the actions of the hyper wealthy globalised few,
their regimes and the corrupted, castrated semi-powerless puppet governments
that are in tandem with them do not have to alter what they are planning and
doing one tiny bit as a result of those words.
It all seems to be going wonderfully to plan for such men, indeed to
date has all been quite brilliantly done. Despite this, they over-play their
hands and over-estimate their own personal power and achievements. This is set
against the sheer scale of the vast powers they have almost certainly
unwittingly set themselves up against most singularly and unfortunately. They are
but specks of nothing within a vast sweep of time and space. Poor tiny idiot
things, setting themselves against The Dharmackakra: www.metmuseum.org/art/collection/search/77751
Whenever
I see "virtue signalling" used I think of the Yamas I have learned
that those who say this never know what the Yamas are anyway, so they are most
wholly and easily forgiven (NO! Not really, they go up onto the damn wheel
every time!!)…..
(a)
Stiglitz: The Invisible Hand does not exist:
(b) Davis and Walsh (2015), "The Role of the State in the
Financialisation of the UK Economy",
"The UK state became an active participant in
the process of financialisation. At the heart of this pro-finance
institutional shift was a changing balance of power between the Treasury and
the DTI. In the late 1970s, both departments went through a series of dramatic
changes that left the Treasury far stronger relative to the DTI.
The Treasury then attempted to remake the DTI in
its own image, subjugating its alternative economic outlook to that of its own.
In the process, the UK financial sector was continually boosted while its core
industrial base was undermined and further placed in the hands of its
London-centred financial sector. This was not simply a lurch towards free
markets, but a particular economic policy paradigm that advantaged finance and
aided the financialisation of UK industry. It propelled the UK towards
financialisation faster than almost any other leading economy of the
time".
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