The Financialization of the American Elite

When I first started reading this I thought, here we go, another business article worshiping another billionaire investor who made it big on a tilted table.  Then I read this quote from the investor being profiled:

“Politicians tend to follow the polls instead of their hearts or brains. They listen more to political consultants than to voters. Our short-term-maximizing politicians fail to tackle longer-term so­cietal challenges such as climate change or unaffordable entitlement programs and the resultant on- and off-balance-sheet liabilities.”

Here we go.   Translation: Wall Street is going to fix global warming, but it will cost you your Social Security and Medicare.  And don’t pay any attention to that Democracy stuff, either.

It is a long article, but worth the effort.  The author takes aim at the big business schools but does give a larger view of the problem.  From the American Affairs Journal:

The Financialization of the American Elite

 

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