When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Wednesday, September 24, 2014

California Now a Third World Country in Wealth Distribution?

You think the term Limousine Liberals was just made up?

America's new class system: Column: "... California now has the wealth distribution — and, in some disturbing ways, the political underpinnings — of a Third World country. In Silicon Valley, a group of super-wealthy tech oligarchs live lives of almost unimaginable wealth, while only a few miles away, illegal immigrants live in squalor. The oligarchs feel free, and even entitled, to choose the direction of society in the name of a greater good, but somehow their policies seem mostly to make the oligarchs richer and more powerful. Meanwhile, once-prosperous middle-class communities, revolving around manufacturing industries that have now moved overseas, either sink into poverty or become gentrified homes for the lower-upper class. The middle class itself, meanwhile, is increasingly, in Kotkin's words, "proletarianized," with security vanishing and jobs moving downscale. The oligarchs are assisted in their control by what Kotkin calls the "clerisy" class — an amalgam of academics, media and government employees who play the role that medieval clergy once played in legitimizing the powerful, and in implementing their policies while quelling resistance from the masses. The clerisy isn't as rich as the oligarchs, but it does pretty well for itself and is compensated in part by status, its positions allowing even its lower-paid members to feel superior to the hoi polloi...."



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