Liberals have a new manifesto for fighting inequality, and it’s very liberal

[AdHocSolver]

23. Capitalism only works for the masses when there is competition and regulation.

Repeal of the Glass-Steagall Act under Clinton effectively allowed the merger of commercial banks and investment banks to enable the corporate buyouts, mergers, and acquisitions that led to the horizontal and vertical integration of once competitive corporations.

The concentration of control in the hands of a few financial oligarchs led to massive political corruption at the national, state, and local levels. Democracy can only exist in an environment of competing centers of economic and political influence.

The TPP, if approved, will make it much more difficult for centers of financial and political power to arise to compete with the existing oligarchy. The TPP will provide political legitimacy to an oligarchy that already has accumulated enormous economic clout.