Like Oligarchy, oweligarchy is a form of government where power effectively rests with a small elite segment of society. Oweligarchy, however, is distinguished from its homonym by a haughty elite who are spendthrift statists, bitterly dedicated to the permanent impoverishment of the non-elite, and who may be further characterized by their affinity for home grown arugula, wagyu steak and tendency to drift into kleptocracy.
In its treatment of business the United States is now fully equivalent to Russia’s handling of Gazprom. In sucking up to government many US businesses are equivalent to the crony capitalists in Red China. CEOs of such firms in both Russia and China met with bad ends, ranging from long jail sentences to bullets in the back of the head.
So far, we’ve had two State Attorneys General threaten several dozen executives who had broken no law, encouraging
the Red Guard ACORN to mount protests and others to make death threats. We’ve seen the firing of the CEO of a private business by the President, and Barney Frank has a bill to control the entire pay scale of any company who took federal money.
General Eisenhower warned us of the military-industrial complex only because he failed to foresee the unholy alliance of government with corporate welfare queen rent seekers promoting the sale of carbon
indulgences offsets for their own aggrandizement at taxpayer expense.
Corporations don’t pay taxes, but some of them sure as hell increase yours through their lobbying efforts. I refer to the specific examples of the General Electric company and T. Boone Pickens. GE has been positioning themselves for years to collect handsomely on the sale of some form of carbon indulgence as championed by AlGore, and Mr. Pickens wants you to spend $70 billion on infrastructure and windmills so as to increase the value of his natural gas holdings, and the windmill parks he’s building. Such corporatist swine should not be confused with capitalists. They are more akin to the people “in charge” of the railroads under Mussolini, the punctuality of which, by the way, has been vastly overrated.
In 2008, the Wall Street Journal deemed the Warner-Lieberman Kyoto Protocol clone bill “the most extensive government reorganization of the American economy since the 1930s.” Sadly, they could no longer say that. Nor, tragically, this:
Thankfully, the American system makes it hard for colossal tax and regulatory burdens to foxtrot into law without scrutiny. So we hope our politicians will take responsibility for the global-warming policies they say they favor. Or even begin to understand what they say they favor. For a bill as grandly ambitious as Warner-Lieberman, very few staff, much less Senators, even know what’s in it. The press corps mainly cheerleads this political fad, without examining how it would work or what it would cost.
I have recommended The Suicidal Corporation in a previous post on corporatism. All of you out there driving Atlas Shrugged to #1 should read that next.