The Left Right Paradigm is Over: Its You vs. Corporations

Barry Ritholtz writes in The Big Picture:

Every generation or so, a major secular shift takes place that shakes up the existing paradigm. It happens in industry, finance, literature, sports, manufacturing, technology, entertainment, travel, communication, etc.

I would like to discuss the paradigm shift that is occurring in politics.

For a long time, American politics has been defined by a Left/Right dynamic. It was Liberals versus Conservatives on a variety of issues. Pro-Life versus Pro-Choice, Tax Cuts vs. More Spending, Pro-War vs Peaceniks, Environmental Protections vs. Economic Growth, Pro-Union vs. Union-Free, Gay Marriage vs. Family Values, School Choice vs. Public Schools, Regulation vs. Free Markets.

The new dynamic, however, has moved past the old Left Right paradigm. We now live in an era defined by increasing Corporate influence and authority over the individual. These two “interest groups” – I can barely suppress snorting derisively over that phrase – have been on a headlong collision course for decades, which came to a head with the financial collapse and bailouts. Where there is massive concentrations of wealth and influence, there will be abuse of power.  The Individual has been supplanted in the political process nearly entirely by corporate money, legislative influence, campaign contributions, even free speech rights.

This may not be a brilliant insight, but it is surely an overlooked one. It is now an Individual vs. Corporate debate – and the Humans are losing.

Consider:

    • Many of the regulations that govern energy and banking sector were written by Corporations;

    • The biggest influence on legislative votes is often Corporate Lobbying;

    • Corporate ability to extend copyright far beyond what original protections amounts to a taking of public works for private corporate usage;

    • PAC and campaign finance by Corporations has supplanted individual donations to elections;

    • The individuals' right to seek redress in court has been under attack for decades, limiting their options.

    • DRM and content protection undercuts the individual's ability to use purchased content as they see fit;

    • Patent protections are continually weakened. Deep pocketed corporations can usurp inventions almost at will;

    • The Supreme Court has ruled that Corporations have Free Speech rights equivalent to people; (So much for original intent!)

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