from David Goldman at The Asian TImes, Deplorably, Trump is going to win
That’s not why Trump crushed the Republican primaries. He won because Americans are tired of an economic elite that ignores them. Americans know the game is rigged against them. For generations Americans could make there way from the bottom to the top of the heap by starting businesses. In some periods more of them succeeded than others, but everyone knew someone who got rich more or less honestly. That came to a crashing end during the Obama Administration. There were fewer small firms with fewer workers in 2013 than there were in 2007.
Corporations are making money by gaming the regulatory system rather than deploying new technologies. Close to half of the increase in corporate profits during the past decade can be attributed to regulatory rent-seeking by large corporations, according to a June 2016 study by Boston University economist Jim Bessen. Bessen concluded that “investments in conventional capital assets and R&D account for a substantial part of the rise in valuations and profits especially during the 1990s. However, since 2000, political activity and regulation account for a surprisingly large share of the increase.”