Tuesday, 27 October 2009

"Who Runs Britain?"

Robert Peston, the acclaimed BBC Business Editor, writes in his book "Who Runs Britain?"

"... it would be to ignore all history to presume that the super-rich, or their trust-fund children, or their plutocratic children's children won't endeavour to convert a fraction of their fortunes into control of the media, sponsorship of lobby groups or seats in Parliament. Their big financial boots will become big political boots. It is irrelevant whether you think that they will do ill or good with their new political power. The accumulation of vast wealth by a growing class of super-rich - who owe no allegiance to any state - is a regressive trend for the distribution of power. It will taint governance and distort democracy."

Interactive Democracy helps counter balance the problem of economic power becoming political power: 1 issue/1 person/1 vote dissipates political power amongst the electorate, making it much more difficult for money to surreptitiously influence policy; and, at the point of casting their vote, the electorate will be presented with a list of the pros and cons of each argument, generated by MPs and citizens, undermining the influence of the media. I think it would be sensible to have laws against lying, too. (For more please see this post.)

Please click here for Robert Peston's blog.

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