Inequality makes the rich richer? Money is power? No on both counts:
. . . crony capitalists “have a lot of money” not because of rising inequality but, rather, because government gives them special privileges. At root, inequality here is the result of actions by the agency so trusted by Mr. Krugman – the state – rather than the source of itself.
For the first erroneous nostrum, this for the second:
. . . only government brings power. While it’s true that people with lots of money are disproportionately able to use whatever government power exists, a government of few and strictly limited powers would be unable to grant special privileges even to the wealthiest of people.
So?
The core problem, therefore, isn’t “money” or “the rich”; it is, instead, the existence of the expansive and vigorous government power that Mr. [Paul] Krugman famously, if illogically, believes is key to freedom, prosperity, and greater equality.
Mr. K. is thus cordially invited to put that in his pipe and smoke it.
Blithe Spirit 