Book Review: Plutocrats by Chrysta Freeland
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January 1, 2013 - 2:28am
The Rise of the New Global Super-Rich and the Fall of Everyone Else
by Dirk Ehnts, Econoblog101
Chrystia Freeland from Reuters paints a panorama of the global 1% in her new book Plutocrats. The last chapter, which describes the Serrata in 12th century Venice, sums up the point that the author wants to make. The global rich are about to kick away the ladder which enabled themselves to get up in society. Many billionaires chronicled in this book come from a moderate background, went to an Ivy League University and then got rich. Increasingly access to Ivy League education is blocked for those whose parents did not already attend one of these institutions (priority is given to the children of those that have attended). This closure resembles that of Venice, where a golden book included all the rich in one moment of time and those who were not in the book were denied access to highe...
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