"Today, the signature of modern American capitalism is neither benign competition, nor class struggle, nor an inclusive middle-class utopia. Instead, predation has become the dominant feature—a system wherein the rich have come to feast on decaying systems built for the middle class. The predatory class is not the whole of the wealthy; it may be opposed by many others of similar wealth. But it is the defining feature, the leading force. And its agents are in full control of the government under which we live.
"Our rulers deliver favors to their clients. These range from Native American casino operators, to Appalachian coal companies, to Saipan sweatshop operators, to the would-be oil field operators of Iraq. They include the misanthropes who led the campaign to abolish the estate tax; Charles Schwab, who suggested the dividend tax cut of 2003; the 'Benedict Arnold' companies who move their taxable income offshore; and the financial institutions behind last year’s bankruptcy bill. Everywhere you look, public decisions yield gains to specific private entities.
"For in a predatory regime, nothing is done for public reasons." James K. Galbraith in Mother Jones
Two important books are hitting the bookstands tomorrow. One is Thomas Franks' ("What's the Matter With Kansas?") latest on the coordinated Republican effort to destroy trust in government: "The Wrecking Crew." The other is Jamie Galbraith's "The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too."
Both authors will probably be on the interview circuit. Franks, FYI, will be on "Fresh Air" today. Galbraith will be doing a weeklong stint at TPM Cafe, talking about his new book.
Hi PW. Thanks for the heads up - I hope they both make a big splash.
On the new color scheme, a jazz musician once said "When I hit a wrong note, I immediately hit it ten more times so people think it was intentional."
I'm still mulling over your comment on PS. If you had to choose between partial justice with partial truth or no justice with full truth, which would you pick? Hmmm.....
Posted by: Dan | August 04, 2008 at 06:56 PM
"If you had to choose between partial justice with partial truth or no justice with full truth, which would you pick"?
Personally speaking, it'd be full truth with no justice.
The printing press was just the beginning.
Posted by: JL | August 04, 2008 at 08:21 PM
The other day I saw the phrase "the privatization of profit and the socialization of loss". Seems to describe the current situation pretty well.
Posted by: not completely useless | August 04, 2008 at 09:49 PM
I'm beginning to think your justice/truth question, Dan, will be answered differently not so much according to political theory or the values of a particular society but according to personal experience. My immediate response to your question was "truth, of course!" Why? Because lately serial lying has been more (personally) frustrating than the uneven application of punishment. And probably because I figure truth eventually brings justice. And maybe because I've gotten frustrated by the either/or thinking which is almost as prevalent on "my" side as among the perps.
Yeah, Not Completely. That sums up the situation just fine!
Posted by: PW | August 05, 2008 at 05:36 AM
"truth eventually brings justice" - probably in an oblique way, anyway: A full airing will probably totally destroy the reputations of those involved and maybe prompt action to guard against a repeat in the future, but the idea of those who have committed crimes just walking away is really hard for me to take.
Posted by: Dan | August 05, 2008 at 08:26 AM
Me too. But I'm not convinced they will walk away. Further thought on this makes me realize I see truth and justice are very closely related. You can't have the second unless you've established the first. Of course, truth isn't very popular right now in the US, not compared to "narrative" and "gut feeling" and political correctness and "faith." The Constitution is so boring and "quaint" compared to all that. So the real trick is not only to get the truth out but to get it believed, respected and acted on. Impeachment and conviction would only harden those who support Bush unless they, too, are persuaded that justice has been done. Let's not forget the Republicans helped expose Nixon and push him out.
Nuremberg was immensely important but it took place long after a helluva lot of damage had been done. Ditto SA's truth commissions.
Posted by: PW | August 05, 2008 at 02:45 PM