Economics

One-Party State Watch, ‘Business Forward’ Edition

Economist Arnold Kling thinks we may be heading toward a one-party state:

The importance of the rule of law is declining, and the importance of political connections to the elite is increasing. I think we will see this trend emerge much more strongly over the next decade, as it becomes clear that the Republican Party is not going to win another national election. Interest groups will lose hope in competitive elections, and instead they will focus on accommodating the Democrats, which in turn will consolidate the power of the ruling party.

At first I thought he might be overstating things, and then I read the following in the New York Times:

Business executives aligned with President Obama have formed a new coalition to support his agenda as Congress moves ahead with legislation on energy, health care, financial regulation and other hot-button issues.

The coalition, calling itself Business Forward, plans to announce its formation on Thursday . . .

The coalition, which plans to recruit small businesses as members, too, aims to provide more consistent support for the priorities of the president and the Democratic Congress.

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