On the contrary, I am equating paper assets with what one has holds in one's portfolio, including bank deposits. The point is that the paper may represent ownership, but not effective control, and, in addition, that the capital is invested productively, whether as stocks, bonds, or bank loans.
Madison held that factions tended to balance one another. It is true, of course, that the dominant interests in the community will tend to carry weight, as they control access to capital or provide employment, and therefore that if one views factions through a class analysis, whatever residual interests are shared among the wealthy will have a strong effect on policy. But this should be balanced against the populist denigration of "Wall Street" and "bosses", and the chance of democratic passions to despoil the numerical minority. In other words, given the potential for stirring class envy and soaking the rich, the fact that the rich have some recourse to sway public opinion and moderate it seems a reasonable balance.
If you do not think that the failure to satisfy consumers represents a systemic problem, I do not know what to say.
I have no idea what you were looking at. I live here now, and what I said is true......
As regard "free air", I was merely relating a series of impressions to which I was privy.....
I am not impressed by UN assessments. I will look back, though, and see what is there....
As for the rest, I got a good laugh, thanks..... |
