Brad Delong posts the sentiment that usually requires at least a few glasses of Pinot before speaking its name
Wall Street especially stands to gain the most from a rapid recovery and a high-pressure economy–even one that comes along with slightly higher rates of inflation.
The problem is not that the modern state is an executive committee for managing the affairs of the rentier class: there is no rentier class and there has not been one for a century. The problem is not that the modern state is an executive committee for managing the affairs of the bourgeoisie: every day I pray to the Holy Name of the One Who Is that it become such…
On one level I don’t think it’s a well kept secret that technocrats often prefer the greed of the plutocrats to the passions of the populists. Though, I rarely hear it in such a plain and sober context.
Nonetheless, I must admit that in more than one rum-soaked rant I’ve bellowed – echoing another Delong post – that at least the rich have the good sense to steal the silver before burning down the house.
Or at leas they did. These days one cannot be sure. And, what good are the moneyed elite if they are either unwilling or unable to whip the GOP into line.