The weirdly comforting thing here is that more than half of the wealth is still in the bottom 99%. That means the masses still have economic power. The problem, of course, is that they cannot deploy it with the same coordination as the smaller group.
If you remove the top 1%, the remaining wealth is concentrated in the top 10%. This group of people is highly invested in the status quo; their wealth and power is usually used to prop up the current system.
These people are reffered to by many names: petit bourgeoisie, professional managerial class, small business tyrants, etc.
The weirdly comforting thing here is that more than half of the wealth is still in the bottom 99%. That means the masses still have economic power. The problem, of course, is that they cannot deploy it with the same coordination as the smaller group.
I don’t think it’s comforting at all.
If you remove the top 1%, the remaining wealth is concentrated in the top 10%. This group of people is highly invested in the status quo; their wealth and power is usually used to prop up the current system.
These people are reffered to by many names: petit bourgeoisie, professional managerial class, small business tyrants, etc.
Those last 9 percent might be hard to convince since they’re already doing quite well.