The New Gilded Age

The Washington Post takes a look at the fundamental trend driving American political, social, and economic life: the growing wealth, power, and social isolation of a tiny slice of the population. The whole right-wing shtick about “elites” is designed as a distraction from the fact that a plutocratic elite is chewing up more and more of the nation’s resources and has become more and more able to shape the political process to its selfish, stupid, short-sighted ends.

Update Matt Yglesias is right that I’d rather have my job and my income than a CEO’s job and a CEO’s income: unless, as he’s also right to add, I could do the job and have the income for a year and then go back to my real life. I don’t envy the CEOs: I’m merely dismayed at the social costs of their wealth and power, and the things they do to maintain their wealth and power.

[Cross-posted at The Reality-Based Community]

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Mark Kleiman

Mark Kleiman is a professor of public policy at the New York University Marron Institute.