How much of our economy goes to serve the Crony Class?

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Charles Hugh Smith thinks that it’s around 40%. That feels about right to me.

(From Of Two Minds)

These articles implicitly raise a question: how much of our work is compliance with regulations, enforcement of those regulations and menial servitude to the New Aristocracy, i.e. the top 10% who have prospered as financiers and the technocrats who manage the central-state/vested-interests status quo?…

Despite the ceaseless propaganda about the value of college–translated into English, this means, “please keep borrowing $100,000 for a worthless degree so I can keep my $250,000 per year job as assistant provost to the adjunct dean of academic standards and political correctness in the Educrat Industry”–the reality is the wages of college grads are not keeping pace with the soaring cost of supporting all those assistant provosts to the adjunct deans and shiny new admin buildings on campuses.

Click here for the article.