[Oligarchs] are spending a lot of money on lobbies to influence government, and... the laws are made to benefit those that already are privileged. - John Komlos

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[Oligarchs] are spending a lot of money on lobbies to influence government, and... the laws are made to benefit those that already are privileged.

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About John Komlos

(born 28 December 1944) is an American economic historian of Hungarian descent and former holder of the chair of economic history at the University of Munich.

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Additional quotes by John Komlos

Rawls says... let's design an economy... in such a way that you would be willing to enter that society at random. That's a just society... You don't know your position in it. You don't know whether you're smart or dumb. You don't know your skin color. You don't know your gender. You don't know your parents. You don't know anything about yourself. ...[In that case] we wouldn't design a society like it is today. You would make sure that there is an equitable distribution of power.... that the power is not concentrated... that there is countervailing power, that wealth is not concentrated...

The Gallup poll says that half of the population is doing well, 52%... thriving, but the rest are either struggling or suffering... 44% struggling means that they have a very difficult time meeting their obligations. That's not a good economy.

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Here is the , 2008... the assets of the Federal Reserve is under $1 trillion... and within weeks you have more than a doubling of the assets of the Federal Reserve, and then comes 2 and... 3 and by that time you're at $4 1/2 trillion... and then... comes the Covid crisis and we're up to $7 trillion. Now... that kind of a Capitalism is unsustainable. ...[N]o wonder that there is asset inflation as a consequence... and the stock market went through the roof.

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