The Wealthy and Privileged Can Revolt, Too

Noah Smith Bloomberg July 6, 2020 Link


Historian Peter Turchin, who believes episodes of unrest happen every half century or so, has a theory to explain what’s troubling the country. According to Turchin, the basic problem is too much competition among elites. With more inherited wealth and more people getting advanced degrees, he reasons, there are more claimants to a relatively fixed number of positions in the upper echelons of politics, business and other social hierarchies. With so many destined to lose out in the increasingly fierce competition, there is bound to be widespread anger and disappointment.

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