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Old 11th October 2019, 08:23 AM   #212
Bob001
Philosopher
 
Join Date: Dec 2006
Posts: 9,307
Another aspect of wealth concentration:
Quote:
Dramatic inequality in wealth means dramatic inequality in terms of political power means a political system unresponsive to what most people want. Wealth inequality, in other words, is an anti-democratic force. A remarkable study by Lee Drutman found that just 31,385 people—one ten-thousandth of the population—accounted for more than a quarter of all political donations in the 2012 campaign cycle, with politicians getting more money from fewer people than in any other year analyzed. No wonder low-income households’ policy preferences have little effect on political outcomes in the United States, whereas high-income households’ policy preferences do, as research by Martin Gilens of Princeton University and Benjamin Page of Northwestern forcefully shows. One of those political outcomes? Inequality itself: Unequal societies tend not to correct their own inequality, because of the political influence of the rich.
https://www.theatlantic.com/ideas/ar...naires/599587/

It's no surprise that the rich look out for themselves. But what happens to the rest of us?
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