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America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
spɹɐʍoɔ snoɯʎuouɐ
Vocem sine nomine audivit!
User ID: kaput
05-17-2018 05:26 PM

Posts: 6,940



Post: #1
America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
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Quote: It's true that the 1% have accumulated a massive share of America's national wealth; but just as significant is the cohort of professionals -- "well-behaved, flannel-suited crowd of lawyers, doctors, dentists, mid-level investment bankers, M.B.A.s with opaque job titles, and assorted other professionals" -- who style themselves as the "meritocratic middle class" but who actually represent the top decile of American wealth, with net worths from $1.2m to $10m.

The 9.9% have rigged the system every bit as much as the 1% have: they live in exclusive ZIP codes with the nation's best "public" schools; they spend vast fortunes to get their kids into elite private colleges; they get better health care and serve easier prison time; they live longer and they pass all these privileges on to their children.

Along with the 1%, the 9.9% are recreating the Gilded Age, right down to the creation of a class of "governesses" (under the modern job description of "nanny"): "both indistinguishable in all outward respects from the upper class and yet emphatically not a member of it." The inequality, corruption, and social immobility of 2018 America is meeting and surpassing all the key metrics that made the Gilded Age so very unstable.

Matthew Stewart -- author of a magesterial longread on America's new aristos -- is the descendant of a corrupt oil executive who was key to the Teapot Dome scandal and whose shadow looms over the Stewart family. Stewart uses his substantial literary gifts and the editorial generosity of the Atlantic to catalog the non-monetary ways in which wealth is accumulated, hoarded, and passed on intergenerationally, with a special emphasis on the psychological delusions about the self-made nature of the 9.9% and the "meritocratic" system that has elevated them, and their children, to the status of precarious courtiers to the billionaire class.

more: https://boingboing.net/2018/05/17/gatsby-2018.html

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Hamburgerwagon
Head LOP Data Miner
User ID: 1337
05-17-2018 05:46 PM

Posts: 3,991



Post: #2
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
My household is in the top 7%.

I dont own any slaves or anything.
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LoP Guest
lop guest
User ID: 1337
05-17-2018 05:59 PM

 



Post: #3
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
Hamburgerwagon  Wrote: (05-17-2018 05:46 PM)
My household is in the top 7%.

I dont own any slaves or anything.

Just commit class treason against your class and everything will be cool.
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spɹɐʍoɔ snoɯʎuouɐ
Vocem sine nomine audivit!
User ID: 1337
05-18-2018 01:42 AM

Posts: 6,940



Post: #4
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
Bump
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LoP Guest
lop guest
User ID: 1337
05-18-2018 01:54 AM

 



Post: #5
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
They will be slaves to the super elite. The Georgio Guidestoners say so..
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LoP Guest
lop guest
User ID: 1337
05-18-2018 01:58 AM

 



Post: #6
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
So what is your recommendation OP? Apply socialist rules to limit salaries and compensation? Socialism is what got us into this mess in the first place, implementing more of the same thing is insanity, trying the same thing over and over expecting different results.

Oh well, at least you can blame the non-existent capitalism red herring straw man.
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LoP Guest
lop guest
User ID: 1337
05-18-2018 01:59 AM

 



Post: #7
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
Boingboing.net?

Knfnpned
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LoP Guest
lop guest
User ID: 1337
05-18-2018 02:00 AM

 



Post: #8
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
None of these discussions will matter in about 75 years.
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LoP Guest
lop guest
User ID: 1337
05-18-2018 02:05 AM

 



Post: #9
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
Hamburgerwagon  Wrote: (05-17-2018 05:46 PM)
My household is in the top 7%.

I dont own any slaves or anything.

Give everything away and follow Jesus

Why do you build a bigger storehouse for your extra grain

If you had faith, you wouldn’t need extra

Give it all away
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LoP Guest
lop guest
User ID: 1337
05-18-2018 02:12 AM

 



Post: #10
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
Marxist derp.

Most of the top 10% have worked hard for their money it is the top 0.1% that are the criminal bankers and sharks on wall street that are the criminals.
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LoP Guest
lop guest
User ID: 1337
05-18-2018 02:12 AM

 



Post: #11
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
LoP Guest  Wrote: (05-18-2018 02:05 AM)
Hamburgerwagon  Wrote: (05-17-2018 05:46 PM)
My household is in the top 7%.

I dont own any slaves or anything.

Give everything away and follow Jesus

Why do you build a bigger storehouse for your extra grain

If you had faith, you wouldn’t need extra

Give it all away

Rarely happens;

It is easier for a camel to go through the eye of a needle, than for a rich man to enter the kingdom of God.
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LoP Guest
lop guest
User ID: 1337
05-18-2018 02:16 AM

 



Post: #12
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
LoP Guest  Wrote: (05-18-2018 02:12 AM)
Marxist derp.

Most of the top 10% have worked hard for their money it is the top 0.1% that are the criminal bankers and sharks on wall street that are the criminals.

I disagree, most of that upper 10% are professionals who have a monopoly on practicing their profession. That monopoly is created via regulations from government.

For instance a doctor cannot practice medicine without the proper certifications, licenses and insurance all mandated by law.

So they all got where they are by unfair economic sanctions, restrictions, regulations and laws.

I know for a while I was practicing a profession, I was never successful at it, but those who were successful relied entirely on their degree and certifications. People they 'supervised' did most of the work, while they collect the check.

We have degree professionals retiring with 500k pensions, then going to work for other cities, states, or corporations doing the same thing making as much or more.

It is 'regulation' of the economy, a statist or socialist paradigm that creates our lack of social mobility and caste system.
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Vlad
lop guest
User ID: 1337
05-18-2018 02:22 AM

 



Post: #13
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
LoP Guest  Wrote: (05-18-2018 02:00 AM)
None of these discussions will matter in about 75 years.

Bingo.
We fix Africa or perish in it.

I seen nicaragua mess up close.
Can buy a Female like cattle.

It's pure horror.
Venezuela 2.

I need to go North 2 breath sort off.

But what faces me?
hijaab
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Vlad
lop guest
User ID: 1337
05-18-2018 02:25 AM

 



Post: #14
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
Feminist cows in charge.
Fat ugly females will be the end of eu.
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Vlad
lop guest
User ID: 1337
05-18-2018 02:29 AM

 



Post: #15
RE: America's new aristocracy: the 9.9% and their delusion of hereditary meritocracy
I got a Belarussian Friend waiting for me to sober up.
She will be a Work of Art even at 90.

Hard on Herself though.
Run endless miles stretch like I feel the pain.

Fat female's in charge is end of Civ..
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