By Darrell M. West
Meet the Billionaires: the 1,645 women and men who regulate an enormous percentage of worldwide resources worthy $6.5 trillion. Darrell West unearths what the opposite 99.99998% people want to know. With wealthy anecdotes and private narratives, West is going contained in the global of the extremely prosperous. Meet U.S. billionaires similar to Sheldon Adelson, Michael Bloomberg, David and Charles Koch, George Soros, Tom Steyer, and Donald Trump—as good as foreign billionaires from worldwide. The becoming political engagement of this small supra-wealthy team increases very important questions about impact, transparency, and executive functionality, and West lays naked the wealthification of politics, together with: • How billionaires can block appointments and laws they don’t like • Why the supra-wealthy moved into coverage advocacy and referenda on the nation point • Why billionaires run for place of work in additional than a dozen nations around the globe
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Additional info for Billionaires: Reflections on the Upper Crust
37 candidates Jimmy Carter and Gerald Ford were given the identical amount of $22 million each to contest the general e lection. Nonetheless, many of the Watergate-inspired laws turned out to be rather porous in their ability to restrict spending by the wealthy. The combination of subsequent court rulings, creative political strategies, and closely contested elections led to the restoration of key pre-Watergate features. Notably, these include weak disclosure, secret spending, the reemergence of large contributors, and spending imbalances in presidential politics.
It creates a loophole that will allow a single individual to contribute millions of dollars to a political party or to a candidate’s campaign. Taken together with Citizens United v. ”11 Through these and other loopholes, court rulings have effectively gutted the post-Watergate system of campaign finance. The result is that a variety of interests have been able to finance and engage in electioneering activities designed to influence the public without disclosing their campaign donors. The growth of secret electioneering masquerading as public education creates huge opportunities for clandestine political action.
People in the middle or at the bottom of the income spectrum have trouble raising the funds to invest in education and health care. 56 Dangers in the Developing W orld The developing world exhibits greater inequity than developed nations and therefore has more of the political and social problems associated with great wealth. 31). Within the developed world, however, there is considerable variation. 57 Many poor nations have weak rule of law. They do not have strong electoral or governance systems that can help balance the political demands of those with great wealth and the interests of the general public.