Monday, November 18, 2024
But in Gilded Ages — such as the one that dominated the turn of the 20th century and the one we’re now in — the ultra-rich abandon such humility. The linkages between wealth and power becomes apparent for all to see. Conspicuous consumption becomes the handmaiden of conspicuous clout.
In such times, the wealthy brag about their access to politicians, talk openly about how many tens of millions of dollars they’ve donated to campaigns and about the “return” on these “investments,” and want everyone to know how they’ve turned their affluence into influence and their influence into even more affluence.
Ultimately, these insults to democracy — delivered by the new oligarchs shamelessly, openly, and arrogantly — go too far. They invite a backlash.