The war against the rich thus continues in the world’s wealthiest country.  It is a campaign now led and inspired by the declining rich, to arouse the currently poor against the insurgently successful business classes.  By their communicative skills and social refinements, the defecting upper class can exert influence and mobilize support far beyond their own numbers.  They can dominate the media and the foundations, the universities and the government, all the secure but ultimately un-enriching havens for those who refuse to enter the real arena of upward mobility- the businesses that are necessarily the prime source of wealth in still capitalist America.  The victims, though, of the war against wealth, even when they are inveighed to join its ranks, are always and inevitably the poor, the ones who still need a mobile society.  The declining rich of all ethnic groups are happy to stay put near the top, administering ideological benefits for those below and adopting the fashionable image of a progressive “new class” to disguise the reality of the old class in decline.

From the new edition of Wealth and Poverty by George Gilder

HKO

The declining industries line up for bailouts.  There is probably no industry declining as much as the old media and this may explain their overwhelming support for a system of privileges and bailouts.

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