"Mark Blyth suggested that today's rich live in a privatized society featuring their own gated communities, private schools, and top-level colleges and universities, and therefore take no interest in how the rest of the population lives. It would be even more damaging if they used their economic power to ensure macroeconomic policies that favored them at the expense of the rest of us. I hope that this becomes part of the debate that Piketty has inspired."
Unfortunately, this happened long ago:
"It would be even more damaging if they used their economic power to ensure macroeconomic policies that favored them at the expense of the rest of us."
It happened starting in about 1930, and accelerated after 1945.
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