Ah goody. Megan McArdle asks the tough questions:
The other day, Arnold Kling asked a sort of interesting question: why hasn’t rising inequality resulted in in the much-predicted oligarchy?
Some might say that we do in fact have an oligarchy, given the remarkable ability of certain interest groups (finance and health care insurers, for starters) to bend legislation to their interest at the expense of every other person in the country. Sounds like an oligarchy to me. Maybe a plutocracy. Whatever. McMegan continuing directly:
Or to put it as he does: with so many unemployed, and income increasing faster among the affluent, why aren’t people hiring more servants?
… I don’t know. Maybe Megan should pick up the phone and ask them? Or send a survey?
What kind of a world does someone inhabit where the fact that absurdly rich people aren’t hiring serfs raises some sort of poignant sociological question? Because her writing could focus alternatively, y’know, on the fact that lots of people are now unemployed and investigating how that happened/trying to remedy that/focusing on how that makes people’s lives incredibly difficult at a time where the wealthiest people in this country have hardly ever been better off.
But no. McMegan doesn’t write about that because she
doesn’t give a shit totally knows that the free market and lower taxes for wealthy will unleash magic free market dust that the poor can eat when they run out of food. Yeah, that’s it.