Daily Archives: May 16, 2020 at 08:06 am EDT

Book Bits | 16 May 2020

The Coming of Neo-Feudalism: A Warning to the Global Middle Class
Joel Kotkin
Summary via publisher (Encounter Books)
Following a remarkable epoch of greater dispersion of wealth and opportunity, we are inexorably returning towards a more feudal era marked by greater concentration of wealth and property, reduced upward mobility, demographic stagnation, and increased dogmatism. If the last seventy years saw a massive expansion of the middle class, not only in America but in much of the developed world, today that class is declining and a new, more hierarchical society is emerging.
The new class structure resembles that of Medieval times. At the apex of the new order are two classes—a reborn clerical elite, the clerisy, which dominates the upper part of the professional ranks, universities, media and culture, and a new aristocracy led by tech oligarchs with unprecedented wealth and growing control of information. These two classes correspond to the old French First and Second Estates.
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