The Uprising of the Second Tier in a Time of Late Capitalism

[mbperrin]

4. Pretty broad statement speaking for 6 billion people.

Of course, what we really have is not capitalism at all as recognized by Smith, Bentham, or other classic thinkers.

Right now, we have a kleptocracy, where influence acquired by birth or other equally non-meritorious and random means, is used to secure the claim to all production of society as a whole, while refusing to actually contribute anything to the circle of goods and factors.

Pops up from time and time and is more extreme now than at any other time in modern history.

I quit using banks for anything in 1978, for instance, and I encourage my students to stay away from them as well. I figure I'm well over $2 million ahead of fees and interest I would have paid to banks for basically the use of my own money since then, or roughly $60,000 per year, all the difference between being harried and comfortable.

And that's just one step.

I do agree that inevitably the kleptocrats will use the military they control to kill as many peons as needed to hang on as long as they can, but sooner or later, they will run out of peons willing to kill other peons for crap wages. The we'll get some change.