Tuesday, October 18, 2011

Quote of the Day: Cycles of Political Institutions

From Bill Bonner

As an institution matures, little by little it shifts from serving its original purpose to serving the ends of those who control it. It becomes rigid — digging in its heels and resisting any change that would diminish the power and wealth of the controlling groups. The longer the institution remains unchanged, the more parasitic and arthritic it becomes. It drains resources away from honest production and redirects them towards favored groups of leeches.

Then…history returns. Then cometh the revolution.

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