Quote of the Day (Adam Garfinkle, on How American Politics Became Dysfunctional)

“Changes in the underlying ratio of labor and capital inputs in the American political economy, thanks to globalization and automation, have advantaged the political power of capital—especially finance capital even as they have disrupted the foundation of our politics and made all but obsolete our inherited ideological/explanatory templates.  This has happened at the same time that our political institutions have ossified from within, especially on the bureaucratic/administrative level, a development abetted in no small part by the accumulated distortions of interest-group, rentier politics in an increasingly top-heavy, unbalanced Federal system. That dysfunction, mightily exacerbated by the organized lobbying power of corporate interests, has given shape to the present wave of plutocracy washing over us. The depredations of plutocracy, in turn, double back in such a way as to render us unable to properly understand or deal with the structural economic changes we face, or to repair our political institutions. In a nutshell, that—all that together—is what’s wrong.”—American historian, political scientist, and editor Adam Garfinkle, “Broken: A Primer on American Political Disorder,” The American Interest, Winter (January/February) 2013