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"What it lost in the crash was not economic power directly but political legitimacy."

Which might not matter that much.

Illegitimate power can still be pretty damn powerful.

Did you see Rachel's item on gerrymandering last night? I don't think they're going to be letting loose the reigns anytime soon.
Posted by God By Divine Right on December 13, 2012 at 8:40 AM · Report this
That's quite an optimistic post based on just one data point. We won't know if you're correct for another decade or two, I think.
Posted by scribble86 on December 13, 2012 at 8:58 AM · Report this
@1 Reins! in the reins you use to direct a horse. (sorry, that's a big internet bete noire for me)

Aristotle got a lot of things wrong (hey, he's still a freaking super genius of the first order), but one thing he most assuredly got right was that political structures are in a constant state of flux.

The Chinese model had its own problems, namely that the politics has been stable as long as the economic growth was sufficient to reach everyone. Once China gets US-style stagnating wages in the working and middle classes (and that day may be just around the corner, if it hasn't arrived already), the fall there may be much swifter than it is here.

After all, we have the illusion of equal opportunity and political participation, which insulates things a little bit (although there are a few even on the right waking up to just how much we've been screwed by the "job creator" class). And, as bad as Washington is, our system is infinitely more flexible and adaptive than the Chinese model.
Posted by Corydon on December 13, 2012 at 9:17 AM · Report this
@3 I was punning (in #1) on purpose.

Sorry for punching you in the button.
Posted by God By Divine Right on December 13, 2012 at 9:37 AM · Report this
[N]eoliberalism ... will not recover from the crash of 2008.

Someone should tell the Democratic Party.
Posted by PCM on December 13, 2012 at 9:37 AM · Report this
Original Andrew 6
Jeez, just 'cause the RepubliKKKan party is committed to the total extermination of the poor, the middle class, blacks, gays, Asians, Hispanics, economists, scientists, and public health and safety advocates, now suddenly there's a problem.
Posted by Original Andrew on December 13, 2012 at 9:52 AM · Report this
Supreme Ruler Of The Universe 7
Can anyone explain Michigan then?
Posted by Supreme Ruler Of The Universe on December 13, 2012 at 10:31 AM · Report this
"... the loss of political legitimacy will eventually erode its economic power ..." [emphasis mine]

Well, maybe, but eventually might be a long time coming.

Meanwhile, current megatrends operate in favor of de facto plutocracy/oligarchy .. no matter if the formal setting is democracy, autocracy, or anarchy.
Posted by RonK, Seattle on December 13, 2012 at 10:38 AM · Report this
Max Solomon 9
@7: 2010 midterms and RW think tank money.
Posted by Max Solomon on December 13, 2012 at 10:41 AM · Report this
What a lovely phrase for being and archaic, xenophobic asshole though. You just have demographic, messaging and technological shortfalls.
Posted by bpinsea on December 13, 2012 at 11:16 AM · Report this
treacle 11
Yeah, given the amount of neoliberal money siphoning going on in both Europe and the US right now, that this train ain't gonna stop any time soon. Remember, Obama and the Democraps are in on it too; "bank bailout" (ie shifting private financial losses onto the public balance sheet) happened under his watch, after all.
Posted by treacle on December 13, 2012 at 12:06 PM · Report this

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