Tuesday, December 22, 2009

I commend to your attention Professor Cole's summary

Top Ten Worst Things about the Bush Decade; Or, the Rise of the New Oligarchs
By spring of 2000, Texas governor George W. Bush was wrapping up the Republican nomination for president, and he went on to dominate the rest of the decade. If Dickens proclaimed of the 1790s revolutionary era in France that it was the best of times and the worst of times, the reactionary Bush era was just the worst of times. I declare it the decade of the American oligarchs. Just as the end of the Cold War and the fall of the Soviet Union allowed the emergence of a class of lawless 'Oligarchs' in Russia, so Neoliberal tax policies and deregulation produced American equivalents. (For more on the analogy, see Michael Hudson.) We have always had robber barons in American politics, but the Neoliberal moment created a new social class. At about 1.3 million adults, it is not too large to have some cohesive interests, and its corporations, lobbyists, and other institutions allow it to intervene systematically in politics. It owns 45 percent of the privately held wealth and is heading toward 50, i.e. toward a Banana Republic. Thus, we have a gutted fairness doctrine and the end of anti-trust concerns in ownership of mass media, allowing a multi-billionaire like Rupert Murdoch to buy up major media properties and to establish a cable television channel which is nothing but oligarch propaganda. They established 'think tanks' like the American Enterprise Institute, which hires only staff that are useful agents of the interests of the very wealthy, and which produce studies denying global climate change or lying about the situation in Iraq. Bush-Cheney were not simply purveyors of wrong-headed ideas. They were the agents of the one percent, and their policies make perfect sense if seen as attempts to advance the interests of this narrow class of persons. It is the class that owns our mass media, that pays for the political campaigns of 'our' (their) representatives, that gives us the Bushes and Cheneys and Palins because they are useful to them, and that blocks progressive reform and legislation with the vast war chest funneled to them by deep tax cuts that allow them to use essential public resources, infrastructure and facilities gratis while making the middle class pay for them.

Read it all here.

--the BB


The Cunning Runt said...

Sadly, you're spot-on here. I have no idea how long it will take (f it is in fact possible) to undo the damage done by this group of self-serving miscreants. My fear is that their beach-head will resist the erosion of logic and fairness for, at a minimum, decades.

Thanks for your lucid appraisal of the unsavory reality wrought by this gang of fools.

Paul said...

It's all Juan Cole's appraisal but he captures it well. We have returned to the era of the robber barons with a vengeance and I have no idea what it will take to turn that around. Congress is too beholden to the bastards and Obama has surrounded himself with Wall Street types.