“in a financialised economy, only those closest to the means of money-creation [...] are in a position to employ the language of universalism. As a result, any political claims as based in particular needs and interests, tended to be treated as manifestation of identity politics, and in the case of the social base of the GJ, therefore, cannot be imagined it as anything but proto-fascist.”
If these people represented any other view. Addressing climate change, protesting capitalism, etc., we’d see this covered 24x7. But they are in great part anti-globalists who want to wrest control back and put it in the hands of the middle class. So much of the media dismisses it. A few teargas canisters at the US’s SD-TJ border and it’s a crime against humanity. Almost daily teargassing of citizens and those people who piped up are silent.
Side: It’s a shame this was flagged. I think we need to think the implication of moneyed people influencing hoew the hoi polloi should think and act.
It took me some time to parse the sentence, I guess he would reach more people if he had used simple terms
The fun thing is that this argument that only the elite may be noble isn't exactly new - it goes back to Ps-Xenophon in the ‘Political regime of the Athenians’ back in 5th century BC. He claimed that the demos is corrupted by his debased position, and that only elites are good (given the chance to rule exclusively, which they hadn't in Athens)
I have read this assertion before, but how can you measure or prove that? I mean there is still an awful lot of stuff being produced, somehow.
Wow, HN mods seem to have deleted this story, so i can't answer the comment:
https://i.imgur.com/tOlYKUa.png says that in 1971, when they still had the gold standard, the ratio was 20-22 now it is around 25-27; so is that a big qualitative change that changes the nature of the system? (Ok, it was much higher a few years back, but it is fluctuating) Still I don't entirely trust the argument that change of gold standard changed everything.
I found  and (assuming it can be categorized under "Financial Profits") made it into a (terribly quick and dirty) graph .
You can concur with their analysis or not, but the relevant government data is properly referenced.