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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Musings on Plutocracy | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="ukxcQMJ7Cl"&gt;&lt;a href="https://www.nakedcapitalism.com/2011/04/musings-on-plutocracy.html"&gt;Musings on Plutocracy&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2011/04/musings-on-plutocracy.html/embed#?secret=ukxcQMJ7Cl" width="600" height="338" title="&#x201C;Musings on Plutocracy&#x201D; &#x2014; naked capitalism" data-secret="ukxcQMJ7Cl" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>I trust readers don't mind that we are a bit heavier than usual on the political-related postings tonight, since this is a slow news week. But that may be useful, given that the big new subtexts at the INET Conference were the importance of "political economy" (three years ago, that expression was seen as having a decidedly Marxist color to it) and the rising wealth and power of the top 1%.  One nagging question is how the increased concentration of income and wealth in the top strata came to pass. The story that this group and their hangers-on would have us believe is that it is all the result of merit and hard work. Two offerings raise doubts about that line of argument.</description></oembed>

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