Quotulatiousness

March 1, 2011

The shifting tide of extreme wealth

Filed under: Economics, Europe, France, Politics — Tags: , , , — Nicholas @ 07:07

Ever wonder how the children of wealthy foreign potentates fit in with “ordinary” wealthy westerners? Anne Applebaum says the relationship has shifted from bare toleration all the way out to sycophancy, but its most noticeable change is the way they can buy influence and apologists:

Money, even foreign money (and particularly that Saudi money), has always been able to buy access to Western statesmen. But in the last decade or so, the proportions have subtly shifted. The democratic West has become relatively poorer, while a clutch of undemocratic “emerging” markets have become richer. To put it more bluntly, Western politicians, ex-politicians, and even aristocrats have become much, much poorer than the very, very rich businessmen emerging from the oil-and-gas states of Central Asia, Eastern Europe, and the Middle East. Twenty years ago, no retired British or German statesman would have looked outside his country for employment. Nowadays, Blair advises the governments of Kuwait and the United Arab Emirates, among others; Gerhard Schröder, the former German chancellor, collects a paycheck from Gazprom, the Russian energy behemoth.

True, there is a legitimate argument for maintaining contacts with dictators: Blair helped persuade Col. Qaddafi to give up his nuclear weapons program in 2003, and in the last 10 days he has twice called the dictator and asked him to stop shooting his people. It hasn’t helped, of course, but it can’t hurt to try.

But there is no justification for taking dictators’ money or befriending their offspring, especially not while simultaneously playing politics with their parents. This is not just a British problem, either. Frank Wisner, the U.S. envoy sent by President Barack Obama to negotiate with Hosni Mubarak in the early days of the Egyptian revolution, also works for Patton Boggs, a law firm that has worked for the Egyptian government. The administration was reportedly angry when he unexpectedly opined that Mubarak “must stay” just a few days before Mubarak fled Cairo. But should anyone have been surprised? Meanwhile, Michelle Alliot-Marie, the French foreign minister, has just lost her job because she went on holiday in Tunisia during the revolution, hitched a few rides on a private plane belonging to a friend of the Tunisian president, and helped her father do a business deal there. When she got back, she tactfully suggested that the French help their friends in the Tunisian police put down the riots.

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