07-05-2018, 11:13 AM
The Atlantic magazine argues that the real problem is not the 1%, but the 9.9% -- what they term the "new aristocracy".
The wealth transfer in the past few decades (in the US) has been primarily from the bottom 90% to the 9.9%:
![[Image: daf515bfe.png]](https://cdn.theatlantic.com/assets/media/img/posts/2018/05/WEL_Stewart_AristocracyGraph1/daf515bfe.png)
And as the article describes, it's less of a meritocracy than it appears, with limited social mobility:
![[Image: 999c60f6b.png]](https://cdn.theatlantic.com/assets/media/img/posts/2018/05/WEL_Stewart_AristocracyGraph2_01/999c60f6b.png)
It's worth a read, here:
https://www.theatlantic.com/magazine/arc...cy/559130/
The wealth transfer in the past few decades (in the US) has been primarily from the bottom 90% to the 9.9%:
![[Image: daf515bfe.png]](https://cdn.theatlantic.com/assets/media/img/posts/2018/05/WEL_Stewart_AristocracyGraph1/daf515bfe.png)
And as the article describes, it's less of a meritocracy than it appears, with limited social mobility:
![[Image: 999c60f6b.png]](https://cdn.theatlantic.com/assets/media/img/posts/2018/05/WEL_Stewart_AristocracyGraph2_01/999c60f6b.png)
It's worth a read, here:
https://www.theatlantic.com/magazine/arc...cy/559130/