86. Zombie Oligarchs « The Baseline Scenario

May 2, 2009 § Leave a comment

We are still looking at keeping banks as they were, with massive wealth transfer upward mildly attentuated.

We’re looking at a near term dominated by the existing economic power structure.  The remaining big banks (in the US) and big banks/corporates (elsewhere) are made invincible by campaign contributions, political connections, and everyone’s reasonable fear of a great depression.  It will be hard for outsiders to challenge that structure effectively – either as new companies or with new ideas.  But you won’t see a great deal of innovation, investment, and growth coming from these survivors.

How do we eventually escape the grip of zombie oligarchs?  We’ll have a fair amount of time to think that through.

By Simon Johnson

via Zombie Oligarchs « The Baseline Scenario.

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You are currently reading 86. Zombie Oligarchs « The Baseline Scenario at Reflections on GardenWorld Politics Douglass Carmichael.

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