Friday, December 10, 2010
Krugman on Corporations and Kleptocrats
I thought this was an excellent post by Krugman. He argues that the notion of corporations as having undue influence is dated, instead it is more accurately seen as powerful individuals having too much influence. I see this as very accurate, look how hard they've been fighting for lower individual tax rates but how readily calls to reform and lower corporate tax rates have been abandoned. We're seeing the slow rise of very powerful individuals in this country, not the increasing influence of corporations. My only slight critique is that kleptocracy focuses too much on economic resources, people seek power, wealth is ultimately only one way to this. Seen through that lens history makes much more sense than it does if you try to read resource centric views back to too many times and places.