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288 pages, Hardcover
First published August 11, 2015
Most free market economies work, or are thought to work, because the holders of capital are far better off than those who do not hold capital.... The work that [holders of capital] do amounts to ensuring that they remain among those with capital and that they can keep acquiring capital.... Being close to the center of power, which may or may not be the government itself, is important because it allows holders of capital to manipulate policy, and hence laws, that will be most favorable to them.... An elite few make out-of-sight decisions about rebuilding or not rebuilding, about who will benefit from the lucrative contracts that will be part of any reconstruction and who will not... [the elite] exploit an opportunity to reshape society in order to secure its hold on power and capital. (p. 49)
In New Orleans, the racial disparities among returnees indicate that there has been social profiteering by an elite, a reinforcing and exaggerating of conditions that give advantage to a small group. A few powerful New Orleans planners tried a land grab as blatant as any that happened in Myanmar, under guises that seemed to be little different. But is a Teach for America volunteer in New Orleans aptly described as a profiteer? That seems unfair. What about business interests in and around Kanto and San Francisco that ensured that their needs trumped more inclusive visions for those cities? Or Haussman's disregard for lower-class Parisians? All, to varying degrees, are forms of profiteering... And every disaster, because it harms the lower ranks and merely inconveniences the upper, separates us more and more. (p. 210-211)