Krugman And Noah: ‘Crankocracy’

Paul Krugman follows Timothy Noah in noting that Citizens United has made America not so much a corporatocracy as a “crankocracy” … a government by oddball billionaires who form super PACs of their own. Krugman points out that the crankocracy has been going on “for decades,” not with formerly illegal campaign contributions but with think tanks, comfy positions between jobs for politicians and their families, etc. Krugman summarizes it this way:

For what the money of rich cranks does is ensure that bad ideas never go away — indeed, they can gain strength even as they fail in practice again and again. The notion that wonderful things happen if you cut taxes on the rich and terrible things happen if you raise them has a stronger hold than ever on the GOP, despite the experience of the Clinton tax hike and the Bush tax cut. Climate denialism gains force even as the planet warms. And so on.

And now a hand-picked Supreme Court (to which Obama’s contributions have made no difference in the balance of power) has handed the keys to the Ferrari to the senescent “teenagers” of the American family. Buckle up; here comes the crash…

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