Friday, August 20, 2010

When big business rules, we get rules for big business

The title is reworked from economist Dean Baker's offering today at Huffington Post. His title: When Wall Street Rules, We Get Rules for Wall Street. Fairly clear what that article explains, eh?  For those not familiar with Dr. Baker, he is one of the few economists who predicted the recent meltdown and he is a vocal critic of financial regulators and politicians whose incompetence and massive conflicts guarantee regular economic calamities. He tops my list of economists worth following.

Baker's article relates well to recent writing in our blog world about results of the 'government capture' orchestrated by business forces in BC. That began years ago, in the nineties, when the NDP was in power and Gordon Wilson led the BC Liberal Party. The money folks had different plans. They turned first to Jack Poole as choice for next Premier but Poole declined the offer. Gordon Campbell was second pick to lead the Liberal Party, which was intended to become the opposite of what its name described.

The arrangers put up plenty of cash and organizing resources. A cooperative media was especially helpful and the maladroit NDP provided plump pickings. After the 2001 election, the direction has been continuous. As we in BC have learned and as Dean Baker writes, those that manage power, inevitably manage it for their own benefit.

But hey, these guys worked at the plan for years and put good money on the line. They think they deserve whatever they get as bought and paid for. But, they're also thanking Gord; he's been a loyal mercenary.
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