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I wonder if the degree to which the wealthy arrange to skew the system in their favor depends in part on how close you get to social collapse.

There is a relationship, but I think it is the reverse. The wealthy have to be protected from their basest instincts which are to skew the system so strongly to their interests that it is forced into collapse. They collectively seem incapable of accepting this, though many wealthy individuals do understand the relationship. The only satisfaction that gives is that those who understand the situation are better positioned to benefit from the collapse than those who deny the possibility or project the causes onto others.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue May 10th, 2011 at 01:17:58 AM EST
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Conversely, the vast majority of people also display little interest or engagement in politics so long as they are materially ok and sometimes care little for those who are not ok and who they then perceive as being a threat to their material security on a win:lose basis.  It can be very hard to organise the disadvantaged even in support of their own vital interests, and even harder to organise support from those who feel they themselves are relatively ok.

For the wealthy engaging in politics can be a hobby or a pastime, a means of upward mobility, a career, or an insurance policy against "bad people" getting into power. Often they are wealthy because they have played the game well in their own interests.

So the general observation, that major political innovations come in response to catastrophic social failures holds true for both reasons - the dispossessed become more engaged and recognise their common interests in changing the system and the wealthy lose their grip in the social upheaval that follows.

Of course the trick, in a functioning democracy, is to provide mechanisms for ongoing non-violent change which reduce the risk of catastrophic failures and mass upheavals.

Index of Frank's Diaries

by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Tue May 10th, 2011 at 05:56:33 AM EST
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But I would argue that the financial system and the process of financialization of the economy, while contributing mightily to the wealth accumulation of the already wealthy, and while embraced by them for that reason, also tends to make the system unstable, as the further "progress" of financialization requires the dismantling of regulatory regimes that protect the stability of the system.  

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue May 10th, 2011 at 12:03:06 PM EST
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