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What lies behind this trans-Atlantic policy paralysis? I'm increasingly convinced that it's a response to interest-group pressure. Consciously or not, policy makers are catering almost exclusively to the interests of rentiers - those who derive lots of income from assets, who lent large sums of money in the past, often unwisely, but are now being protected from loss at everyone else's expense.

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They are frequently cited as the first instance in American history when people in the homosexual community fought back against a government-sponsored system that persecuted sexual minorities, and they have become the defining event that marked the start of the gay rights movement in the United States and around the world. American gays and lesbians in the 1950s and 1960s faced a legal system more anti-homosexual than those of some Warsaw Pact countries.[note 1][2] Early homophile groups in the U.S. sought to prove that gay people could be assimilated into society, and they favored non-confrontational education for homosexuals and heterosexuals alike. The last years of the 1960s, however, were very contentious, as many social movements were active, including the African American Civil Rights Movement, the Counterculture of the 1960s, and antiwar demonstrations. These influences, along with the liberal environment of Greenwich Village, served as catalysts for the Stonewall riots. Very few establishments welcomed openly gay people in the 1950s and 1960s. Those that did were often bars, although bar owners and managers were rarely gay. The Stonewall Inn, at the time, was owned by the Mafia.[3][4] It catered to an assortment of patrons, but it was known to be popular with the poorest and most marginalized people in the gay community: drag queens, representatives of a newly self-aware transgender community, effeminate young men, hustlers, and homeless youth. Police raids on gay bars were routine in the 1960s, but officers quickly lost control of the situation at the Stonewall Inn, and attracted a crowd that was incited to riot. Tensions between New York City police and gay residents of Greenwich Village erupted into more protests the next evening, and again several nights later. Within weeks, Village residents quickly organized into activist groups to concentrate efforts on establishing places for gays and lesbians to be open about their sexual orientation without fear o