Ideology, Politics and the Concentration of Capital

Authors : John Roemer

Pages : 37-44

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Publication Date : 2015-05-13

Article Type : Research

Abstract :The concentration of wealth in the United States has reached its highest level ever, equal to what it was on the eve of World War I.   The wealthy maintain their wealth - sheltering it from confiscation via taxation - mainly through ideological means.  Influencing politics directly through campaign financing and lobbying are important, but probably less important than the creation of pro-capitalist ideology among voters, which occurs through myriad means. The polarization in the US Congress has followed closely, over the past 200 years, the polarization of wealth.   As the top 1% become ever wealthier, they expend more resources attempting to prevent Congress from confiscating their wealth, which probably explains the ever-rightward movement of the US Republican Party.
Keywords : Income Distribution, Politics, Capital