The greatest beneficiaries of global capitalism applied their winnings toward the ultimate hostile takeover: They captured the levers of democratic governance. They bankrolled accommodating politicians, and then wielded their influence to tilt the workings of capitalism in their favor. They demonized government and embraced privatization as the solution, placing public goods in the hands of profit-making companies. They sold austerity as a virtue and imposed it on government spending, cutting education, housing, and health care. Then they funneled the spoils of this liquidation to themselves
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