I haven't read much into his work, but that theory makes a lot of sense to me. But an overproduction of elites isn't necessarily a bad thing though as this increases competition at the top. So the question becomes what do the "new elites" do to either become "part of the club", which might not be possible, or do they act as a somewhat equal and opposite force against the original elite. If the latter, then this leads to the question of what strategies do they use to achieve their goals - maybe polarizing the country would be one of them.
This problem is one that is difficult to solve because you're going to end up screwing somebody pretty badly. The Bloomberg article mentions taxing inheritances, setting up wealth taxes, and limiting PhD's as solutions. But at this point, I don't see how any of that solves the problem of reducing the amount of elites. The old money elites will be there until they die, so perhaps taxing the shit out of their inheritances would help, but that's difficult to control and surely there will be loopholes built into that tax code. Wealth taxes and limiting PhD's would seemingly create blockers for everyone else, meaning the elite have less competition, so that strategy doesn't make sense to me either. That would be more like preserving what's already in place.
I know folks don't like when I get on my soapbox about this, but this is why I'm such a huge advocate of limiting the power of government. The elites use government to increase their power and wealth, usually by means of rent-seeking or lobbying. So by curtailing this problem, we limit at least some of the power the elite have in leading the country to the pits of hell, which lessens the problem of overproduction of elites since it won't pay to be in politics a anymore. And if it doesn't pay to be in politics anymore, maybe we can start to limit government expenditures, thus tackling the problem of inflation for sustainability at the expense of real wage growth.
You've mentioned a lottery system for public service in the past. Honestly, I don't think that's a bad idea, really, and could also help solve this problem.
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To be fair, every Democrat on Tuz is also a conspiracy theorist considering they bought the Russia hoax and racism stuff from day 1. And day 1 was even before Trump started his presidency.
This problem is one that is difficult to solve because you're going to end up screwing somebody pretty badly. The Bloomberg article mentions taxing inheritances, setting up wealth taxes, and limiting PhD's as solutions. But at this point, I don't see how any of that solves the problem of reducing the amount of elites. The old money elites will be there until they die, so perhaps taxing the shit out of their inheritances would help, but that's difficult to control and surely there will be loopholes built into that tax code. Wealth taxes and limiting PhD's would seemingly create blockers for everyone else, meaning the elite have less competition, so that strategy doesn't make sense to me either. That would be more like preserving what's already in place.
I know folks don't like when I get on my soapbox about this, but this is why I'm such a huge advocate of limiting the power of government. The elites use government to increase their power and wealth, usually by means of rent-seeking or lobbying. So by curtailing this problem, we limit at least some of the power the elite have in leading the country to the pits of hell, which lessens the problem of overproduction of elites since it won't pay to be in politics a anymore. And if it doesn't pay to be in politics anymore, maybe we can start to limit government expenditures, thus tackling the problem of inflation for sustainability at the expense of real wage growth.
You've mentioned a lottery system for public service in the past. Honestly, I don't think that's a bad idea, really, and could also help solve this problem.
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To be fair, every Democrat on Tuz is also a conspiracy theorist considering they bought the Russia hoax and racism stuff from day 1. And day 1 was even before Trump started his presidency.
Polarizing the country is an interesting strategy though. It could be a means for the outsider elites to do a power grab by associating the existing ruling elites with the demise of the general public ... which is quite a bit of the situation we have now in many countries.
You know, when you think about it, there are parallels at the elite level and the generational level, for example. Given the scarcity of housing, the finite limits of desirable real estate, and how its costs have completely outgrown inflation, it's set up a lot of high achieving millennials to be locked out of the ownership class. I've read how millennials could be economically split in the future between those who inherit from their dying boomer parents and those who don't.
And don't worry about the soapbox. I may not agree with you, but I do want to hear the rationale behind your preferences here. And how you've characterized government here -- more to its realistic flaws far short of its lofty ideas -- is a fair assessment, IMO. Btw, could we reframe rent-seeking as basically any form of passive income requiring limited to zero labor?
Where I disagree with your opinion here is that I may be too much of an optimist here, but I think it's a cop out not to expect better from governance. Yes, the conservative notion is to look at governance as the problem and to put a tourniquet on it. But by doing so I think you only stand to address the symptoms and not the source of the problem. It's a bit like having a fever and starving yourself as a means of getting healthy again. That rather than seeing if you can save the arm, you think of cutting it off and cauterizing the wound. The US has an imperfect democracy. And despite the originalists, many great nations have updated their constitution to reflect modern times ... and not just by amendments. I think there's more to gain than lose in doing so for a 250 year old document.
I know my feelings these days are wholly full of holes, but my "Flight 93" election response -- as you noted -- is to do something dramatic altogether which scarily has some things in common with Trump governance doctrine: rid us of the professional politicians and replace them with a lottery system of representative government where, like jury duty, people of different walks of life are drafted and paid a salary to represent social problems that markets alone cannot fix (or exacerbate). It eliminates the pathway for a career ruling elite class, and it destroys much of the structure behind corporate influence and money-raising -- where our election system is awash with undue financial influence.
Oh, there are plenty of problems and details to work out. Not the least of which is you draft political amateurs who need to be educated on their representing issues from zero sometimes. But I would love to see some states or even just counties experiment with this idea. It's getting to be like the losing war on drugs: the current trajectory is abject failure.
p.s.: While Russia meddled with the election, I thought the premise as framed for Trump's impeachment that he was keeping Putin's secrets was ludicrous. For one, that Putin would trust Trump's ego and blabbermouth. For another, that Trump would know how to shut up and avoid self-incrimination.
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