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  • An Inconveniet Truth

    04/16/2014 4:35:44 PM PDT · by SatinDoll · 3 replies
    The Market-Ticker ^ | April 16, 2014 | Karl Denninger
    We're better than those damned Russians and their Putin; we have democracy! Well, maybe not. Quote: Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence. The results provide substantial support for theories of Economic Elite Domination and for theories of Biased Pluralism, but not for theories of Majoritarian Electoral Democracy or Majoritarian Pluralism. Lots of big words in that paragraph. Let's distill it down -- the argument presented is that America is really no different than...