Capitalism's Top 1% Are The New Aristocrats
Scriptonite Daily | 24.02.2013 19:05 | Globalisation | Repression | Workers' Movements | London | World
The central promise of free market capitalism is that anyone can make it if they try. It’s appeal over the old model of landed aristocracy and feudal society was the emancipation of land locked peasantry to enjoy the fruits of their labours based on meritocracy – in short: those who can, will. However, with social mobility in decline and the wealth gap widening to ever greater degrees – have capitalists become the new aristocrats, lording over a globalised neo-feudal system?
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