These two are essential reading for anybody who wants to understand where we are. Today, of course, Venice is sinking. Freeland charts the rise of this class by examining global trends and exploring the consequences of the creation of such a money-laden elite, shifting smoothly from dense academic studies and interviews with George Soros to grappling with the success of Lady Gaga… Her findings are fleshed out with fine research, strong statistics and neat nuggets of information.
It's well written and easy to read, although if you are not at all familiar with financial markets, you may find yourself "googling" a few things. While a lot has been said and written about the super-rich sinceI still gained some insights from Ms.
One such insight was the concept of the "working rich". In previous generations, wealth was largely inherited. More of today's millionaires have worked for their money. Not all of them have produced useful goods or provided needed services; most of them work in finance or banking and manage hedge funds -- but they do work under stressful conditions.
They go to the same events and holiday spots, and speak largely to each other. The same can be said for many groups, but this is a group which includes many politicians and has influence over the lives many of us live.
My biggest worry about income inequality has become that of governing both governments and industries from a narrow perspective -- something that can only exacerbate the problems. At first, I was left wanting more analysis in the book, but upon reflection, I am happy that Ms.
Freeland An analysis of plutocrats by chrystia the issues as well as she did, enabling readers to draw their own conclusions.
LynnB Feb 2, Pretty good book but I honestly can't remember much about it so I guess that doesn't say much about it. It's just that it wasn't all that inciteful. It was dismal and depressing and basically true. My gripe is the lack of organization or overall analysis - there's no big takeaway, and very little in the means of concluding remarks.
In the end, there's no real interpretation of the history and present activities of plutocrats. If this were sold only as a collection of facts, it would be a fantastic work - however, it appears to have strived for more.
It does inundate you with individual stories to illustrate the points and themes. One for each topic would have been sufficient. Worth the read because it speaks to global economics, but lower rating because you often browse when reading repetitive material.
Freeland, of course, is herself a member of the elite she describes. Daughter of two politically active lawyers, she attended Harvard and won a Rhodes scholarship to Oxford.
Freeland worked as the Moscow bureau chief for the Financial Times, and currently represents Toronto Centre in the Canadian Parliament. Freeland has an incredible degree of access to politicians, global plutocrats, and even the Russian oligarchs, and Plutocrats is filled with anecdotes of her conversations with these interesting characters.
This is really valuable material: Freeland obliquely mentions Taibbi in the concluding pages of Plutocrats. It can be fun to imagine the super-elites who went to Wall Street and their Harvard classmates who became economics professors and those who became U.
They can jet around the world to take a minute meeting, and stay in a five-star hotel room that offers the same amenities on any continent.
In a sense, the super-rich have turned the planet into McDonalds. Just like middle-class Americans cruising Route 1 from Maine to Florida or Route 66 across the heartland, the plutocracy is safe in a consistent uniformity that promises no surprises wherever they are.
The elite and their hangers-on see each other regularly at think-fests like Davos, Aspen, and TED, where the organizers very rarely screw up and invite someone like Sarah Silverman. The result, Freeland says, is a narrowing of perspective. And to an extent he was right: Government regulators and Wall Street executives are often the same people.
And, in the absence of any credible countervailing opinions, how surprising is it they are taken by themselves and society as geniuses and as the only game in town?
But they are also not infallible, and society needs to be built around a dialog that represents differing perspectives. Freeland concludes her book with a historical example of what happens when a society shuts out those other voices.
This was the beginning of the end. The question is, where are the other perspectives going to come from? Freeland hopes to find them among the plutocrats, in people who although they went to Harvard, started life in a remote public school. Personally, I think we need to throw the net a bit wider.
However, I think she underestimates the value of being at the right place at the right time. Now, it can be wrong, or it can be right—that is your own judgment call.In Plutocrats: The Rise of the Global Super-Rich, Chrystia Freeland describes how wealth is becoming increasingly concentrated in the hands of a historically tiny number individuals, who live a lifestyle many people can barely imagine.
Chrystia Freeland’s Plutocrats provides us with a glimpse of the lives of America’s elites and a disquieting look at the society that produces them. This well-written and lively account is a good primer for anyone who wants to understand one extreme of America today.”.
Plutocrats NPR coverage of Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else by Chrystia Freeland. News, author interviews, critics' picks and more.
Nov 13, · Until recently, Chrystia Freeland was managing director and editor for consumer news at Reuters. She was also a prolific author, including, most recently, of the excellent book Plutocrats: The. Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else by Chrystia Freeland Perhaps the most frequently reported economic trend in recent years is the growth of global inequality and the rise of a super-rich overclass, indelibly dubbed “the one per cent” by the Occupy movement.
Miles Report No. 87 - Plutocrats - a review. Plutocrats - The Rise of the New Global Super-rich and the Fall of Everyone Else. Chrystia Freeland. Anchor Canada (Penguin Random House), Toronto.