There is an interesting piece by Paul Krugman in the New York Times titled Plutocracy and Politics. I like Krugman; he is a liberal economist (not radical, mind you), and doesn’t shy away from giving somebody a shot to the gut. My only gripe with him is that he doesn’t think the econmic system we have is rotten at the core, that by definition, capitalism does not benefit a majority of people.

Krugman writes about the new Kevin Philips book, Wealth and Democracy, which is about the plutocracy in the United States. What is a “plutocracy”? Here is what it says in the dictionary: “1. Government by the wealthy; 2. A wealthy class that controls a government; 3. A government or state in which the wealthy rule.”

If you want to learn more about the political economics of our economy check this out.