Super Rich and Wealth Chasms -- State Intervention aiding Crony Capitalism “Our figures show that the top group of people—the 80 people now—and of the billionaires… about a third now inherited their wealth. And that figure’s increasing all the time. And this is the point the French economist Piketty made in his famous book last year, that we’re rapidly returning to an era that we thought had been consigned to the history books, an era that we associate with The Great Gatsby or maybe Victorian times in Britain where wealth is inherited and all of the things that come with that. So it’s not just the capture of political power in this generation, it’s about using your money to shore up the future of your children and your children’s prospects. So it really is a kind of ossification of society, if you like, a stratification, which we think is deeply, deeply harmful, because it’s ultimately bad for the economy, it’s bad for meritocracy.”
Posted on: Tue, 27 Jan 2015 01:09:30 +0000
Trending Topics
Recently Viewed Topics
© 2015