Tuesday, August 28, 2012

The Results of Regulatory Moats Around Crony Capitalists

Crony capitalists get richer and richer, while it becomes more and more difficult for most of us to cross the moat into the land of elitists, because of regulatory moats that are much easier for crony capitalists to deal with---because they have the money to hire lawyers and lobbyists to deal with the moats. The chart below on U.S. incomes says it all. A regulated society is a society of elitists, who control power centers.

(via Marginal Revolution)


  1. I am not an economist, but wouldn't the appropriate measure of gold "price" stability be based upon its price in relation to goods other than the dollar? To measure it in terms of the dollar neglects the fact that (as you point out) the dollar itself is one half of the gold to dollar ratio.

  2. Crony capitalists take care of one another, tossing bones to the young with proper genes: