The key to understanding the rise in inequality is not technology or globalization. It is the power of the moneyed interests to shape the underlying rules of the market.
Successive High Court decisions have done more than enfranchise corporations at the expense of the rest of us. The same logic in the same cases now defines public corruption down: that a direct and palpable quid pro quo must be seen to operate. Absent that smoking gun, the financial elite has no limits on bankrolling campaigns whose candidates then vote their interests. To the nation's founders, that untrammeled influence was the essence of public corruption.
Last week, Our Declaration, by Danielle Allen, made PEN/America Center's shortlist for the Galbraith Award for Nonfiction. The prize goes to "an author of a distinguished book of general nonfiction" "notable literary merit and critical perspective" that highlights "important contemporary issues." Allen's book was published last year to a host of lively reviews. Here is one of the earliest, by Steven B. Smith. Also included below is a link to Allen's homepage.
In which the Senator Professor makes all the right people nervous.
For the next week, we can concentrate on basketball and marvel at the remarkable athletes playing their hearts out and set politics aside. But perhaps, maybe during the commercials, we can reflect on the fact that the vast majority of these games are being played by teams from public universities in states whose governments are hostile to public universities and whose policies increase the already considerable financial burden on the students at these universities.
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