The Rise of the New Oligarchs

Juan Cole writes about The Rise of the New Oligarchs,

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.

1 thought on “The Rise of the New Oligarchs

  1. Is there anyone in the United States actually paying attention?
    When is someone going to be held responsible for producing a safe and efficient food and water supply?
    It has been many, many years since I dropped economics as a bunch of bullshit. However one of the last papers that I dealt with at the University of Denver extension course was a report that at that time, if the stream of food was stopped cold, the US would be starving in less than 4 weeks because there was only three weeks in the supply pipeline that would reach the stores.
    I dropped economics as voodoo science shortly, but I have always remembered that paper.

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