Tuesday, 2 December, 2008

For honest government, vote rich

We are routinely shocked by the asset disclosures made by election contestants, as millionaires and billionaires line up to represent the downtrodden. But their concern for the poor is actually our only hope out of the cesspool of corruption. Here’s why? 

First, as every economics book tells us, the rich are the salt of the earth and will turn this place into heaven if we let them seek profit unhindered. Out of self interest, that is, to generate goodwill for their businesses, they will serve us diligently.

Second, if the rich are greedy, they’ll very greedy. 

If you have a million, a thousand won’t interest you, because the marginal satisfaction is minimal. So you’d become incorruptible for most direct supplicants. There remains the question of indirect bribes, i.e., your share of the smaller bribes collected by underlings, that collectively come to a tidy sum. Well, here you’ll doubtlessly want more than the career politician, thereby oppressing the people under bribes so heavy that they’ll rise in revolt and establish the altruistic people’s republic. 

Now, since the rich are wiser than they are greedy, or since their greed makes them wise, they will never allow the revolution. In other words, they’ll ensure honest government and happiness for all.

Third, the controlled corruption the oligarchy will usher in will untimely make us all rich. Any money given to the rich, lawfully or illicitly, is good for society because the rich create wealth, i.e., multiply money. While career politicians will use a large part of their ill-gotten wealth to get re-elected, and the rest on vulgar display of wealth and power, the rich will first increase the amount obtained, then use some of the ‘profits’ for re-election. 

The cycle will shift from an entirely vicious one to one that is largely virtuous, though somewhat circuitously. One can call it a forced investment from a public which will, foolishly, not invest otherwise.

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