Recent LRC Blog posts surrounding the classical liberal roots of Marxist class analysis reminded me that we have rarely had a clearer portrait of the two dominant heads of the exploiting class hydra. In the past two years, even with central bank stonewalling and opaque government deals it is obvious that the main exploiters are those individuals managing the political system and those individuals who own the financial system’s central conduits.
When the Treasury Department’s managers and the Federal Reserve System’s managers collude behind closed doors, and the lowliest scam that emerges is a lottery-winner level of financial fraud…one that the SEC miraculously can’t fathom…it is pretty obvious who is getting rich at our expense.
Before everyone gets all “conspiracy theory” on me, let’s recognize the obvious, which is that people with similar aims and who benefit from the same set of conditions need not have each other on speed dial in order to coordinate their actions.
Just as the market spontaneously organizes the efforts of individuals laboring in a voluntary system to generate vast productivity, the political system coordinates the efforts of the exploiting class to inexorably change the rules so their exploitive efforts produce more loot. The clown in the White House need not hold a conference call with the heads of the major banking families and the clowns running Congress in order to get all their plans set.
This raises an interesting conjecture.
Has the centuries-long spontaneously-organized labor of the major banking cartel families been the dominant force that gifted us with this hydra political economy that is stealing us blind?
Here’s my line of thought: