Insufferable in Aspen

Via Ryan Chittum at CJR, a good look at how our elite sees the rest of us:

CNBC’s John Carney finally heard an idea that intrigued him at the Aspen Ideas Festival: Ending universal suffrage:

His argument had two parts. The first was that some people simply are not ready for democracy. They have no functional conception of the state in their minds, much less an understanding of representative, deliberative democracy. Some are so poor that they can be bribed to vote this way or that for “five dollars,” he said. The application of the principle of universal suffrage was not a recipe for successful government in these circumstances, the speaker argued…

This pretty much runs against the grain of everything decent and serious people think. In fact, in a place like Aspen — which is dominated by progressives of various sorts — it felt like he was standing athwart history yelling “Go back!”

There’s something truly gross about the elite gathering in Aspen, of all places, at the behest of The Atlantic, of all institutions, to talk about how some people are too stupid to vote (a notion advanced by the Wall Street Journal editorial pages last week).

Because what the world needs now is more power concentrated in the hands of Aspen Ideas Festival elites like Alan Greenspan, Pervez Musharraf, and Larry Summers.

— Here’s the headline of Agnes Crane’s Reuters Breakingviews column:

Libor rigging look like victimless crime

If somebody was making money off this, somebody was losing money. It’s a zero-sum game. The argument, I suppose, is that it’s “victimless” if you steal relatively small amounts from large numbers of people (emphasis mine):

The numbers just don’t look large enough to matter. In one documented example, a derivatives trader put in a request to lower the input for three-month Libor, among the most popular benchmarks for floating rate debt, and it dropped by half a basis point, 0.005 percentage points. Libor was 5.365 percent at the time. Borrowers would hardly notice the difference.

That was the point, wasn’t it?

Remember, it was the “smart” people who got us into this mess. They’re the ones who shouldn’t be allowed to vote.

4 thoughts on “Insufferable in Aspen

  1. Those elites are not only arrogant, they also don’t stay current with the research. Remember the whole “wisdom of crowds” thing? It’s a known effect by now that the more people contribute to a decision, the more sensible it becomes, so long as they all have the same information (not necessarily a lot, just the same), the information isn’t slanted, and none of them know how the others are deciding.

    In other words, independent decisions.

    Which means no political advertising, for starters, and getting the money out of politics.

    Come to think of it, maybe it makes perfect sense they’ve conveniently forgotten about the wisdom of crowds at Aspen.

  2. Last year , Alex Pareene at suggested nuking Aspen because of the elite pukefest. Supposedly Spouting Thomas (Friedman) suggested a Bowles-Simpson presidential ticket last year at Aspen. I strongly second Pareene. Maybe herd all the elites possible into Aspen and then nuke baby nuke.

  3. Well, concerning the right to vote, most of our founding fathers did not believe everybody should have the right to vote, only property owners, and in some cases, there was a minimum amount on the owned property necessary to hold the right to vote, and this went on well into the nineteenth century. It really isn’t that long ago when women were ‘granted’ the right to vote. And IIRC there is at least one Justice on the US Supreme Court (Alito)who does not believe in the ‘one man, one vote’ principal.

  4. Why leave out the last half, re: Amazon/Bezos/Kindle[Burning of Books (and Bankrupting of some of the absolutely finest authors) as so many of us know them, for their Humane Purpose. ..Ultimately [the End Game], no more: being able to read them in privacy ..and without the stunningly unquestioned potential for DIGITAL REVISION]:

    “— The Wall Street Journal looks at ( ) how Amazon’s Marketplace retailers think it uses its inside knowledge of their sales to compete against them:

    “Thousands of small merchants depend on Inc. AMZN +3.18% to reach customers who otherwise wouldn’t know they exist. A few of them complain, though, that Amazon sometimes eats their lunch.

    According to some small retailers, the Seattle-based giant appears to be increasingly using its Marketplace—where third-party retailers sell their wares on the site—as a vast laboratory to spot new products to sell, test sales of potential new goods, and exert more control over pricing…

    Amazon is willing to lose money on the sale of some products and can drive down prices by buying items in larger quantities than many competitors, says Piper Jaffray analyst Gene Munster. That, in turn, can force third-party retailers to lower their own prices.””

    The stunning NETROOT negligence as regards the predominately LIBERTARIAN AYN RANDIAN TECHIE WORLD, and the decimation of laws regarding PRIVACY …..MONOPOLIES and OLIGARCHIES ….is OBSCENE.

    The NETROOTS are so proud that they hold the concept of a benevolent creator to be utter bunk, while absolutely, unquestionably, …worshipping utter: empathy absent, destructive, …arrogant,…. insanely..narcissistic white (only) male techie Robber Barons who likely never registered Democrat in their entire lives.

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