Financial Oligarchy

Financial Oligarchy vs. Feudal Aristocracy

15.02.2016

Like the feudal rent, the hidden tribute to the financial sector, the nearly 40 percent of consumer spending that is appropriated by the financial sector, helps explain how wealth is systematically transferred from Main Street to Wall Street. The rich get increasingly richer at the expense of the poor—not just because of greed or the blind forces of the market mechanism but, more importantly, because of deliberate monetary/economic policies, which have steadily come under effective control of the financial oligarchy. Indeed, the very mechanism of money creation and/or monetary policy itself exacerbates inequality.