Discover more from Learning by Proxy with Vivek Srinivasan
Power and Money
The Money and Power divide between the East and the West
In the West money begets political power
The winners of the presidential races in the US are candidates who end up raising the largest amount of money. Politicians need to pander to the corporates to win elections.
There is not a single candidate who takes a stance that is explicitly anti-corporate establishment. This is not just true of the US but also across the Atlantic. Rishi Sunk rolled back a majority of the policies that had been put in place against climate change last week to appease the oil lobby and car manufacturers with the elections less than 2 years away.
Biden is going to Michigan to stand with the UAW picket line, digging his political grave.
In the West, the Oligarch control politics
In the East political power begets money
As China rose in prominence, many companies rose in tandem. Alibaba became a behemoth and so did so many real estate majors. They went from strength to strength through many economic cycles and downturns. When these corporations fell out of favour with the politicians, they were suddenly beset by all kinds of crises.
The Adani group charted the rise from the 100th largest company to the top 3 in the world. Despite the entire fiasco with the New York-based fund, they are charting a comeback, which will continue until the current government remains in power.
In the case of Saudi Arabia, you cannot even tell where the politics end and the money begins. Aramco is Saudi Arabia and Saudia Arabia is Aramco and the king controls both.
In the East, the Oligarchs are controlled by the politicians.
The trouble with Russia is that while outwardly very Western it operates like the East. They are the white easterners. Politics does beget money.
The Americans don’t hate Oligarchy, who will finance the politicians but for Oligarchs? The US does not hate Abramovich, they hate that he cannot do whatever he pleases with this money.
Elon Musk can choose to buy Twitter and try to manipulate the elections; Abramovich cannot. He has to ultimately bow to Putin.
The US has been working hard since 1950 to reverse this. They thought it ended with the fracture of the USSR.