Senator, United States, Guinness discussed on Background Briefing

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Plan abs we don't have wealth minimums for being a senator we don't have wealth maximums on being a member of the house of representatives our constitution is radically different from what came before uh and that's the argument of the book will we have is the constitution that assumes a large middle class that assumes that we have relative economic equality and that's why it doesn't have any of these classic base checks that were the fundamental structural feature of most republican governments prior to the us constitution so on the other side of the coin this phenomenon all income inequality in the growing income gap in the fact that same did a recent report that signs that something like eighty five sam these controlled half of the the gloves wealth and it does seem that we hitting back in to a kind of medieval model where you have a small global elite and a vast soda roiling peasantry and then a small professional class of lawyers and accountants who are essentially dedicated to wealth management why is this apparently any inexorable trend why is it that more and more wealth is being concentrated into fewer and fewer hands and it's a global phenomenon not just here in the united states or one of the challenges and this is what people have been worried about throughout throughout history is that when you start having economic inequality the wealthiest people uh wealthiest corporation wealthiest interest groups you their wealth to try to influence governments and they influenced policymaking the influence campaigns uh they sometimes work themselves in government um but what they tried to do is you policies to benefit themselves and what that means is that policies start benefitting them in big grow even wealthier and now they have even more wealth to use to spend on uh government influence and so what you've got is what one commentator called the doom loop of oligarchy which is sort of a vicious cycle where the wealthiest just keeps getting wealthier because they can use their economic power to lobby and control government uh and then to increase their further economic power and this is the challenge of trying to get out of this kind of system and again i speaking with guinness sitaram men who is a massive lord and bit law school and senior fellow center american progress he's been a.

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