Growing income inequality from "summary" of The New Class Conflict by Joel Kotkin
The growing income inequality is not just a statistical curiosity or a mere reflection of market forces; it is a societal phenomenon that has deep implications for the future of our country. The gap between the rich and the rest of society has been widening at an alarming rate, leading to a concentration of wealth and power in the hands of a select few. This trend is not just about money; it is about the erosion of social mobility and the creation of a new aristocracy that is largely immune to the struggles of the middle and working classes. The economic elites, who have benefited the most from this trend, are not just content with accumulating wealth; they are also consolidating their power through political influence and control of key institutions. This new ruling class has little interest in the well-being of the broader society, as their focus is on maintaining and expanding their own privileges. This has led to a situation where the interests of the elite are increasingly diverging from those of the majority of A...
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