The Source of Our Rage
Please read my election note at the end of the essay.
There are many sources of rage: injustice, the destruction of truth, powerlessness. But if we had to identify the one key source of non-elite rage that cuts across all age, ethnicity, gender, and regional boundaries, it is this: The Ruling Elite is protected from the destructive consequences of its predatory dominance.
We see this reality across the entire political, social and economic landscape.
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If I had to pick one chart that illustrates the widening divide between the Ruling Elite and the non-elites, it is this chart of wages as a share of the nation’s output (GDP): 46 years of relentless decline, interrupted by gushing fountains of credit and asset bubbles that enriched the few while leaving the economic landscape of the many in ruins.
The Ruling Elite once had an obligation to uphold the social contract as a responsibility that came with their vast privilege, power, and wealth (i.e. noblesse oblige).
America’s Ruling Elite has transmogrified into an incestuous self-serving few unapologetically plundering the many. In their hubris-soaked arrogance, their right to rule is unquestioningly based on their moral and intellectual superiority to “the little people” they loot with abandon.
Rather than feeling a responsibility to the nation, America’s Elite views the status quo as a free pass to self-aggrandizement.
Much has changed in America in the past 46 years. Not only have wages and salaries declined as a share of “economic growth,” but the wealth that has been generated has flowed to the top of the wealth/power pyramid (see chart below).
Social mobility has also declined drastically: Restoring America’s Economic Mobility, as has trust in government and key institutions.
As Frank Buckley, the author of The Way Back: Restoring the Promise of America observed:
“In a corrupt country, trust is a rare commodity. That’s America today. Only 19 percent of Americans say they trust the government most of the time, down from 73 percent in 1958 according to the Pew Research Center.”
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