Socioeconomic Acrophobia

I really enjoyed this piece by Josh Marshall, going deep on Kleiner-Perkins founder Tom Perkins’s comparing the rising critique of income inequality to the Nazis’ Final Solution:

And then there’s the other really important variable in the equation. We know now that Wall Street came out of the financial crisis pretty nicely. But that was far from clear in the fall of 2008. The titans, under-titans and sub-titans saw the entire financial system spin on the edge of un-self-regulating collapse, something the reigning ideology of recent decades said shouldn’t have been possible along with the real prospect of whole personal fortunes evaporating in an instant. That kind of scare is not easy to forget. Mix it with the need to run to the political class hat in hand and that ocean of animus from the public at large and you get the makings of a political and psychological toxicity that breeds Perkinsonian nonsense at the extreme end and more pervasively the sense of embattlement and threat verging on persecution complex that I described above.

★ Monday, 27 January 2014