On Wednesday evening, in a veritable Night of the Long Knives, Wisconsin's integrity was brutally murdered on the floor of the state Capitol in Madison. [...]
I think Night of the Long Knives is an odd reference, but it satisfies Godwin's law, I guess. If Walker was pulling off a modern Kolibri of the Teabaggers v the Repugs, then it fits. Since it was mostly an attack on working people, I see it as being a little closer to Kristallnacht as a reference. Mox nix, a takeover is a takeover. But I digress.
Economics textbooks, along with Fox News and shout radio commentators, spread the myth that fortunes are gained productively by investing in capital equipment and employing labor to produce goods and services that people want to buy. This may be how economies prosper, but it is not how fortunes are most easily made. One need only to turn to the 19th-century novelists such as Balzac to be reminded that behind every family fortune lies a great theft, often long-forgotten or even undiscovered.
But who is one to steal from? Most wealth in history has been acquired either by armed conquest of the land, or by political insider dealing, such as the great US railroad land giveaways of the mid 19th century. The great American fortunes have been founded by prying land, public enterprises and monopoly rights from the public domain, because that's where the assets are to take.
Throughout history the world's most successful economies have been those that have kept this kind of primitive accumulation in check. The US economy today is faltering largely because its past barriers against rent-seeking are being breached.
Nowhere is this more disturbingly on display than in Wisconsin. [...]
They're keeping it quieter elsewhere.
A peek into Governor Walker's so-called "budget repair bill" reveals a shop of horrors that is just the opposite of actually repairing the budget. Among the items listed in the bill until Wednesday night were selloffs of state power generation facilities – in no-bid contracts notoriously prone to insider dealing.
The 37 facilities he wants to sell off that produce heating and cooling at low cost to the state's universities and prisons. Walker's budget repair bill would have unloaded them at a low price, presumably to campaign contributors such as Koch Industries – and then stick the bill for producing this power at higher rates to Wisconsin taxpayers in perpetuity. (And this is all being sold as a "taxpayer relief" plan!) Invariably, this will make its way into new legislation once attention is diverted from the current controversy.
The budget bill also plans to tear down the Wisconsin Retirement System (WRS). This is not New Jersey, where a succession of corrupt governments have underfunded (read: stolen) the state pension system in order to shift resources to pay for budget shortfalls in general revenues caused by tax breaks for the rich. The WRS is one of the nation's most stable, well-funded and best-managed pension systems. [...]
I'm sure the $75B the WRS has in reserves look pretty good to the Kochsuckers as well.
Other proposals suggest selling off Wisconsin's public northwoods lands with their cornucopia of mineral and timber wealth. And much more is said to be in the works.
So Walker's war is not only against the Democrats and labour, it is against Wisconsin's Progressive Era institutions. His policy threatens to pauperize the state and deal a coup de grace to Progressive Era institutions and impoverish the state's middle class. Contra John Maynard Keynes's gentle suggestion of "euthanasia of the rentier", it is the middle class that is being euthanized – throughout North America and Europe.
I think pitchforks and scythes respect the 'rule of law' every bit as much as the Repug thieves do. Soon...
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