For years the leaders of protected, high margin industries in the US, those I call the oligarchs, have supported free market philosophy and its attendant think tanks and political candidates. Free enterprise, they argue, is the bread and butter of the American economy. Public officials from both parties proclaim their obeisance to free markets. Everyone knows our free market system is better than communism, as we are still reminded of our superiority over a political system that disappeared in 1991. [That’s kind of like claiming you have stylish clothes compared with the suit that helped get Kathy Bates on the 1991 Worst Dressed list.
What we end up with is an extremely large government that is too timid to do real oversight but deeply generous to the oligarchs.
But what’s this? The Obama Administration considering tightening the compensation of the biggest welfare cats? Good news indeed.
