Ownership Society News
The Rise of the New Ruling Class: How the global elite is leaving you behind by Chrystia Freeland.
It's the cover story of the current special State of the Union issue of the Atlantic with some fascinating facts and quotes. It's all about how the emergence of this new global elite, whose wealth has come mainly from the information economy, is widening the gap between the super-wealthy and the rest of us.
What we were seeing...was not a single economy at all, but rather “fundamentally two separate types of economy,” increasingly distinct and divergent.
Freeland writes that a multi-billion-dollar bailout and Wall Street’s swift, subsequent reinstatement of gargantuan bonuses have inspired a narrative of parasitic bankers and other elites rigging the game for their own benefit. And this, in turn, has led to wider—and not unreasonable—fears that we