Greg1084 Wrote:
Nov 16, 2012 7:28 AM
We are witnessing the rise and entrenchment of rule by a technocratic elite, the rule of "managers" in bureaucracies, in supposedly non-governmental businesses, and in businesses with direct ties to government. This is the reproduction of the absolute monarchy of Louis XIV with a rotating kingship. The path to failure is the same: Sovereign debt that cannot be paid. However, the justification of the mechanism, while different, is essentially the same. People went along with Louis because they thought he would be more effective in using the resources of the nation than the parliaments, and he bribed many with conferred nobility and government offices (sinecures) where they administered districts and farmed taxes. The peasants thought