Re: FirstRateCrowd's EIRA

Posted: Sun Dec 02, 2018 11:46 am, #15
by Sterling Volunteer
The concept of capture, be it political, corporate, state, or policy is an extremely powerful force maintaining the status quo of the 1% power. Noam Chomsky gives more credibility to the powerful process as he describes it in the following excerpt from my previous post #7 Under Economic Inequality, the Singularity, Pitchforks And Torches Will No Longer Be Able To Stop The 1%. It is a problem that will not be solved politically and we need to embrace the EIRA as a long term solution.
Finally, and to the section addressing regulations and the creation of laws supporting those regulations in favor of the wealthy, Noam Chomsky’s new book is discussed by Moyers and Company on May 11th 2017. In his new book: Noam Chomsky , “Requiem for the American Dream,” reveals the Running Of The Regulators, with the following excerpt,

If you look over the history of regulation — railroad regulation, financial regulation and so on — you find that, quite commonly, it’s either initiated by the economic concentrations that are being regulated, or it’s supported by them. And the reason is because they know that, sooner or later, they can take over the regulators and essentially run what they do. They can offer what amounts to bribes — offer them jobs or whatever it may be — it’s an advantage to the regulators to accommodate themselves to the will of the powerful. It happens naturally in many ways, and ends up with what’s called “regulatory capture.” The business being regulated is in fact running the regulators. The banks and bank lobbyists are actually writing the laws of financial regulation — it gets to that extreme. That’s been happening through history and, again, it’s a pretty natural tendency when you just look at the distribution of power.

As Moyers and Company points out,

[The book]is a primer in Chomsky’s analysis of the faults of the American political and economic system. Taking as its backbone the idea that “a significant part of the American Dream is class mobility: You’re born poor, you work hard, you get rich,” Chomsky systematically documents the many ways the system is rigged from top to bottom to ensure that corporations always win.
As journalist Chris Hedges notes in a blurb for the book, “Its power to write its own laws and regulations, Chomsky points out, has ultimately created a mafia economic system and a mafia political system that is exemplified in the rise to power of the demagogue Donald Trump.”

Taken all together, the conservatives who are currently in power will have the opportunity to abuse the legal system in their favor now and even more so in the future. With shortened time frames between technological events, and with massive quantities of events, by the time we as an underclass figure out what is going on with individual and corporate actions, we will be severely injured by the elite. In the blink of an eye, and without technology capable of keeping up in the law profession relative to other arenas, a significant amount of damage can be done. When seen through Mr. Chomsky's view that the Republican Party is the most dangerous organization in human history, and combined with their staunch allies like those corporations creating their own regulations through a process of, “regulation capture,” there is little wonder as to why we need to be fearful and take action now, not later.