Tag Archives: Populism

Wall Street Journey – an uber-capitalist’s eyes are opened, at last

BREAKING NEWS! Gerard Baker, ex Editor in Chief and now Editor at Large of the Wall Street Journal, in a recent Opinion piece in that paper*, has concluded that the current workings of the American financial and governing system are rigged in favor of wealthy citizens and institutions!

Duh-uh!

Throughout known history, starting even before the days of kings and empires, the vast majority of governments have had one overriding purpose: to preserve the power and wealth of their rulers.

From its founding, the USA was intended to be profoundly different: a representatively-democratic republic whose government would serve the interests of all its people. Today, after more than two centuries of striving, stumbling and revising toward that goal, it is clear to most observers that our economic and electoral systems – and especially the current administration’s twisted vision for them – have been perverted to a degree which threatens the very survival of our nation and legacy. The only thing newsworthy about Mr. Baker’s opinion is that it comes from such an entrenched member of the financial elite as himself.

For decades, people like Mr. Baker and institutions like the WSJ have decried progressive policies as governmental ‘transfers of wealth’ even as the record of income and asset distribution shows their prolonged application of ‘supply side’ and ‘market driven’ policies have been relentlessly transferring a vast portion of the nation’s wealth (and thus its power) away from the masses who live paycheck to paycheck and into the hands of the most wealthy few, the owners of corporate and property assets.

Tardy as Mr. Baker’s conversion is, it can yet serve a useful purpose by reminding us all that from now through November Third – and thereafter, at least through the crucial election of 2028 – thoughtful voters must support candidates who will work to dilute the power of corporations, proto-monopolies, venture capital, hedge funds and the ultra-wealthy. We must stop electing legislators who will promote anti-worker and anti-household policies in spite of the repeated and continuing failure of those policies to achieve their stated objectives.

(Remember: the real reason supply/market policies are perennially pushed and enacted by the power brokers is that they are actually achieving their unstated objectives: to ensure and increase the wealth and power of the already wealthy and powerful.)

P. S. – To explore a different way in which our current ‘winner take all’ politics may play out and just how extensive the resulting damage would be, read E Unum Pluribus. This new speculative fiction is offered as a cautionary tale, while there is still time to avoid anything like the events it imagines. E Unum Pluribus is currently being serialized online and anyone can read it, at no cost, by navigating to the the home page of this website and selecting E Unum Pluribus from the top menu, or via this link: https://robinandrew.net/2026/01/01/e-unum-pluribus/

*Link to Mr. Baker’s piece: https://www.wsj.com/opinion/how-to-cure-what-ails-american-capitalism-52d97161?utm_source=substack&utm_medium=email

**Special thanks to Robert Reich, without whose Substack I’d be unaware of Mr. Baker’s sudden conversion, seeing as how I am not normally a WSJ reader. See robertreich@substack.com, 2026-08-20, ‘Corporate America EXPOSED! (In the most unlikely place)’

This post is public so please share it as widely as you like.

If you appreciate what you read here at robinandrew.net, please subscribe. It’s free!

Paris – The Biography of a City, Colin Jones

Virtually a reference work, this self-confessed “Impossible history” of one of the world’s great cities comes buttressed by many pages of notes, a graduate level bibliographical guide, index, population table, modest number of illustrations, sequential maps showing the evolution of fortifications and boundaries, and even a list of the (major) buildings discussed.

For all that, the text itself is mostly quite readable, and manages to remain even-handed when discussing the political oscillations of the city’s fortunes.   Jones’s personal viewpoint is most glimpseable in the depth with which he discusses the impacts of the real estate marketplace and urban planning (a discipline for which nineteenth century Paris was something of an origin point and test case).  These, we hear, heavily influenced not only the visible face but also the economy, sociology and politics of the city, its surrounding suburbs (the banlieue), region and nation. The rise and growth of antiquarian/protectionist architectural sentiment is given an appropriate level of attention, since it is largely that movement and its successes which have bequeathed us today’s tourist and cultural mecca.

As for the aforementioned political oscillations, to one whose prejudices were shaped by the American education system within an Anglophile culture, Paris is eye-opening in relating the wave after wave of governments established, contested and washed away in favor of the next new or recycled concept.  From far back in the era of multiple kingdoms, principalities and ecclesiastical domains to contesting Empires of the middle ages to the early-modern era of Communes, communists, Republicans, Vichy capitulation and Republics (five, to date), it is amazing that anyone has been able to establish any stable business, institution or assets at all. A thought worth considering as the USA is going through its own populist spasm which may – at best – be followed by a future swing in some opposing direction.

One thing which does seem to have remained relatively consistent through Paris’ administrative history: even when the city and nation were not overtly socialist, their governments have always exercised far greater powers of eminent domain than we in the USA are accustomed to.  Some small justification, perhaps, for the disdain which some Americans profess toward anything ‘those Frenchies’ (or any Europeans for that matter), may have to say about social policy or virtues.   Reading about the centuries-long role Paris has played in nurturing the very idea of self-government by the polity though, makes that disdain seem more short-sighted than ever. 

Another significant takeaway: the wealth of literature generated in Paris’ Arrondissements over the centuries would require a lifetime of reading to consume and appreciate. Preferably in the original, since even my feeble attempt to learn French quickly convinced that its full nuance is unlikely to survive translation. One reason, perhaps that, Jones begins his introduction with a literary quote and analysis. In retrospect, this turns out to be a wholly appropriate entry point for what is as much a human story as a geographical one.  At every stage of its history, the promise of Paris has called to millions, to such a degree that its population has always been largely non-native, immigrants increasing its numbers even as low birth-rate, high mortality and the exodus of those unwilling or unable to meet its demands were constantly working to diminish them.

Fascinating even in its occasional excesses (just like its subject), Paris – The Biography of a City easily earns its space on the shelf.

(Note: published in 2004, this volume necessarily does not cover the City’s most recent decades.)