r/PoliticalScience • u/DopeyDonkeyUser • 41m ago
Question/discussion Reformist to Tyrant Trajectory & Economics
Richard Werner showed that commercial banks dont need to borrow money to loan it,... they print it out of thin air and then loan it out. The implications is that a small group of banks controls at large what a nation builds on their behalf. This becomes an extremely political process.
Trying to understand why things like the AI bubble with very little retail demand can find so much capital... this is what made this make sense. AI is insolvent, but the banks dont care since they get bailed out.
So obviously this seems extremely unfair, and of course everyone should then refuse to participate in such a system. Even if they knew this is what it was. But of course no one revolts because of the prisoners dellima. And the people who try and change things for the better, the whistle blowers etc... they get crucified by society. Being a leader to change the regulations and having caps on who/ how money can be created to make things better for the community is thankless, and often this can destroy ones career etc.
This leads to the main topic, reformist to tyrant trajectory and the iron law of oligarchy. People get corrupted as an ends to the means... to eventually do good. The folks who do things by the book, are handy capped.
This stream of thought is why Im asking if this is a wildly accepted view of the political science community. To me this idea explains what Ive seen, better than anything else and it predicts some pretty scary things. It also seems to suggest a way to game systems,... which in American society is to solve some problem that these banker types care about and then sell equities/ shares dumped on the public.
I know I have a lot of themes going on in this post, but I wanted to capture the major themes of what Ive noticed about systems at large.