Last edited Wed May 16, 2018, 08:24 AM - Edit history (1)
the book, "Twilight of the Elites". Chris refers to the terms and system in his book, and he talked about it.
The term 'oligarchy' has been widely used and all over in the last 5-10 years. French economist Thomas Piketty's massive influential 2013 work, "Capital in the 21st Century," covers the rise of great inequality. You likely saw news of this major publication.
https://www.theguardian.com/books/2014/apr/28/thomas-piketty-capital-surprise-bestseller
Also, from 2014, Paul Krugman "Why We're in a New Gilded Age," 'Capital in the 21st Century,' Thomas Piketty
http://www.nybooks.com/articles/2014/05/08/thomas-piketty-new-gilded-age/
Like so many things, we're impacted by the news we follow, where we live, our life, background, networks and more.
https://www.vox.com/the-big-idea/2016/10/13/13259860/twilight-elites-trump-meritocracy
Excerpt, 'Twilight of the Elites' (2012) Chris Hayes,
Hayes acknowledges that meritocracy has advantages over the system of special privilege for white Protestants that it replaced. However, he says that it is unsustainable in the long run. Riffing on Michels’s "iron law of oligarchy," which holds that all democratic institutions will end up being run by an internal elite, Hayes proposes what he calls the iron law of meritocracy. He argues that the equality of opportunity that meritocracy promises will inevitably be overwhelmed by inequality of outcome. The people who do well from meritocracy will invest the proceeds from their success in working the system to make sure that they and their kids have the resources they need to continue to do well.
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