Tuesday, April 08, 2014

Paul Krugman on gravity

I always thought that this kind of anti-gravity force works at every level. "You see my point: the sheer wealth of the 0.1 percent has a kind of gravitational attraction, pulling people into their orbit and their worldview." says Paul Krugman in Channels of oligarchic influence: an example.

P.S. Related discussion at Economist's view.
With all the focus on top 1% or .001%, I cannot help feeling that many others have a role too, particularly the middle classes. Palma said a couple of years ago ‘In Latin America the middle classes seek to defend their share of income with different forms of alliances with the √©lite (some more successfully than others). This is different to India, for example, where the administrative classes defend their position mostly via alliances with the poor (which gives them the political power to mediate in the different conflicts between the capitalist √©lite and the state)’. from

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