Trump is on trial for abuse of power – the Davos elites should be in the dock too
As the Senate debates Donald Trump’s future, chief executives, financiers and politicians will descend on Davos in the Swiss Alps for their annual self-congratulatory defense of global capitalism.
The events are not unrelated. Trump is charged with abusing his power. Capitalism’s global elite is under assault for abusing its power as well: fueling inequality, fostering corruption and doing squat about climate change.
Chief executives of the largest global corporations are raking in more money and at a larger multiple of their workers’ pay than at any time in history. The world’s leading financiers are pocketing even more. The 26 richest people on Earth now own as much as the 3.8 billion who form the poorer half of the planet’s population.
Concentrated wealth on this scale invites corruption. Across the world, big money is buying off politicians to procure favors that further enlarge the wealth of those at the top, while siphoning off resources from everyone else. [Continue reading…]