America's growing plutocracy

America is becoming a nation in which wealth dominates the government and in which the financial rewards from the economy are monopolized by wealth instead of ability and accomplishment. The term for that is "plutocracy." The ideal of America has always been a society that was a "meritocracy" in which ability and accomplishment dominate government and the rewards from the economy flow to those who are most productive. We are losing that ideal.

What is the difference? In a meritocracy society rewards those who demonstrate personal abilities that increase economic and social productivity and who are useful to others. In a meritocracy the government is run by individuals who have demonstrated personal achievements. In a plutocracy, society rewards the holders of great wealth rather than those who have personally accomplished things of note.

The key government policies in a plutocracy are those that protect great wealth and the ability to keep it in the family. In a meritocracy the key government policies are those that grow greater wealth for society, and instead of allowing it to remain concentrated in a few pockets already dominated by inherited wealth, they spread it to those who contribute most to building society and to increase economic productivity.

But don't people with great wealth get rewarded for their achievements? No, generally they are rewarded for their personal networks and ability to raise funds needed to build organizations (productive or not) which they will then dominate because of their networks among the wealthy. I offer as an example George W. Bush, who has never in his life achieved anything, but because of his family and its wealth he was handed a series of jobs at the top of oil companies, then handed a professional baseball team, and finally was handed the Governorship of Texas followed by the Presidency of the United States. At no time has he ever achieved, let alone exceeded, expectations. There is one exception. He was placed in government by those who have great wealth, generally inherited, and his job has been to appoint government officials who act to protects and augment families with great wealth.

Just my opinion? Go look at the chart that Kevin Drum has posted and read his explanation. The top line on his chart - the one that shows the income flowing to the top 1% of America families - shows clearly that America is rewarding wealth, not ability or productivity.

Protecting and rewarding wealth is the central purpose of the conservative movement, even when it makes American society less productive.