Ron Formisano
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780252041273
- eISBN:
- 9780252099878
- Item type:
- book
- Publisher:
- University of Illinois Press
- DOI:
- 10.5622/illinois/9780252041273.001.0001
- Subject:
- Sociology, Social Stratification, Inequality, and Mobility
Almost all studies of the nation’s extreme inequality of income and wealth have overlooked a critical, overarching cause of the creation of The New Gilded Age. The permanent political class has ...
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Almost all studies of the nation’s extreme inequality of income and wealth have overlooked a critical, overarching cause of the creation of The New Gilded Age. The permanent political class has driven and sustained economic and political inequality not only with the government policies it has crafted over the past four decades. It has created inequality by becoming a self-dealing, self-serving nepotistic oligarchy that is enabling the One Percent and the .01 Percent to create an American aristocracy of wealth.
American Oligarchy describes a multifaceted culture of self-dealing and corruption reaching into every sector of American society. The political class’s direct creation of economic inequality by channeling the flow of income and wealth to elites, has been described extensively; less exposed has been how its self-aggrandizement indirectly—but hidden in plain sight—creates a culture of corruption that infects the entire society.Less
Almost all studies of the nation’s extreme inequality of income and wealth have overlooked a critical, overarching cause of the creation of The New Gilded Age. The permanent political class has driven and sustained economic and political inequality not only with the government policies it has crafted over the past four decades. It has created inequality by becoming a self-dealing, self-serving nepotistic oligarchy that is enabling the One Percent and the .01 Percent to create an American aristocracy of wealth.
American Oligarchy describes a multifaceted culture of self-dealing and corruption reaching into every sector of American society. The political class’s direct creation of economic inequality by channeling the flow of income and wealth to elites, has been described extensively; less exposed has been how its self-aggrandizement indirectly—but hidden in plain sight—creates a culture of corruption that infects the entire society.
Ron Formisano
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9780252041273
- eISBN:
- 9780252099878
- Item type:
- chapter
- Publisher:
- University of Illinois Press
- DOI:
- 10.5622/illinois/9780252041273.003.0009
- Subject:
- Sociology, Social Stratification, Inequality, and Mobility
America’s oligarchy is creating an aristocracy of inherited wealth.
America’s oligarchy is creating an aristocracy of inherited wealth.
