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What makes the super rich tick? Is there a specific mindset that sets ultra-high net worth individuals apart from the rest of us? Are they meticulous planners - or is their wealth an unintended by-product of their entrepreneurial activities? Is it nature or nurture that sets them on the path to great financial success? This book represents one of the most comprehensive modern-day studies of the super rich. Based on interviews with members of the financial elite, and rigorous academic analysis, this empirical study investigates the link between personality traits and the creation of enormous wealth. In short, the book provides a fascinating insight into the world of the super rich - and how they think, behave and make their fortunes.
Inside the hidden lives of the global “1%”, this book examines the networks, social practices, marriages, and machinations of Pakistan’s elite. Benefitting from rare access and keen analytical insight, Rosita Armytage’s rich study reveals the daily, even mundane, ways in which elites contribute to and shape the inequality that characterizes the modern world. Operating in a rapidly developing economic environment, the experience of Pakistan’s wealthiest and most powerful members contradicts widely held assumptions that economic growth is leading to increasingly impersonalized and globally standardized economic and political structures.
A Financial Times Best Book of the Year Shortlisted for the Lionel Gelber Prize There has always been some gap between rich and poor in this country, but recently what it means to be rich has changed dramatically. Forget the 1 percent—Plutocrats proves that it is the wealthiest 0.1 percent who are outpacing the rest of us at breakneck speed. Most of these new fortunes are not inherited, amassed instead by perceptive businesspeople who see themselves as deserving victors in a cutthroat international competition. With empathy and intelligence, Plutocrats reveals the consequences of concentrating the world’s wealth into fewer and fewer hands. Propelled by fascinating original interviews with the plutocrats themselves, Plutocrats is a tour de force of social and economic history, the definitive examination of inequality in our time.
This book analyses the processes through which the modern forms of large fortunes are amassed. Despite the recent spate of governmental and non-governmental interest in inequality (be it wealth or income), the most privileged and fortunate have not generated much interest in mainstream economics. As the issue of wealth accumulation is multifaceted, the proposed book will not merely be an exercise in business history but deals with the issue from multiple perspectives, accordingly employing alternative research methods. Broadly, the trends and dynamics in high-tier wealth accumulation are coupled to the economic, political and social mechanisms that have been in play for at least half a century or more in some parts of the world. This approach leads to potential policy implications since much of the debate on wealth distribution centres on the extent to which wealth has been ‘justly’ attained. Further, how wealth is distributed in the capitalist system can have an impact upon economic growth.This book offers an alternative perspective on why we have witnessed the growth of a new social class of ultra rich. This book will be of interest to academics and researchers in international economic bodies.
Philanthropy and Status Boundaries among the Elite. Religion, Ethnicity, and Jewish Philanthropy. Gender, Marriage, and Philanthropy. Education, Culture, and the Institutionalization of Philanthropic Values. Attitudes toward Inheritance and Philanthropic Bequests. Government and Philanthropy : Alternatives or Complements?
NEW YORK TIMES BESTSELLER • The groundbreaking investigation of how the global elite's efforts to "change the world" preserve the status quo and obscure their role in causing the problems they later seek to solve. An essential read for understanding some of the egregious abuses of power that dominate today’s news. "Impassioned.... Entertaining reading.” —The Washington Post Anand Giridharadas takes us into the inner sanctums of a new gilded age, where the rich and powerful fight for equality and justice any way they can—except ways that threaten the social order and their position atop it. They rebrand themselves as saviors of the poor; they lavishly reward “thought leaders” who redefine “change” in ways that preserve the status quo; and they constantly seek to do more good, but never less harm. Giridharadas asks hard questions: Why, for example, should our gravest problems be solved by the unelected upper crust instead of the public institutions it erodes by lobbying and dodging taxes? His groundbreaking investigation has already forced a great, sorely needed reckoning among the world’s wealthiest and those they hover above, and it points toward an answer: Rather than rely on scraps from the winners, we must take on the grueling democratic work of building more robust, egalitarian institutions and truly changing the world—a call to action for elites and everyday citizens alike.
This book demonstrates exactly how the corporate rich developed and implemented the policies and government structures that allowed them to dominate America in the 20th-century. Written with unparalleled insight, Domhoff offers a remarkable look into the nature of power during a pivotal time, with added significance for the current era.
How the leisure class has been replaced by a new elite, and how their consumer habits affect us all In today’s world, the leisure class has been replaced by a new elite. Highly educated and defined by cultural capital rather than income bracket, these individuals earnestly buy organic, carry NPR tote bags, and breast-feed their babies. They care about discreet, inconspicuous consumption—like eating free-range chicken and heirloom tomatoes, wearing organic cotton shirts and TOMS shoes, and listening to the Serial podcast. They use their purchasing power to hire nannies and housekeepers, to cultivate their children’s growth, and to practice yoga and Pilates. In The Sum of Small Things, Elizabeth Currid-Halkett dubs this segment of society “the aspirational class” and discusses how, through deft decisions about education, health, parenting, and retirement, the aspirational class reproduces wealth and upward mobility, deepening the ever-wider class divide. Exploring the rise of the aspirational class, Currid-Halkett considers how much has changed since the 1899 publication of Thorstein Veblen’s Theory of the Leisure Class. In that inflammatory classic, which coined the phrase “conspicuous consumption,” Veblen described upper-class frivolities: men who used walking sticks for show, and women who bought silver flatware despite the effectiveness of cheaper aluminum utensils. Now, Currid-Halkett argues, the power of material goods as symbols of social position has diminished due to their accessibility. As a result, the aspirational class has altered its consumer habits away from overt materialism to more subtle expenditures that reveal status and knowledge. And these transformations influence how we all make choices. With a rich narrative and extensive interviews and research, The Sum of Small Things illustrates how cultural capital leads to lifestyle shifts and what this forecasts, not just for the aspirational class but for everyone.
For more than thirty years, Kevin Phillips' insight into American politics and economics has helped to make history as well as record it. His bestselling books, including The Emerging Republican Majority (1969) and The Politics of Rich and Poor (1990), have influenced presidential campaigns and changed the way America sees itself. Widely acknowledging Phillips as one of the nation's most perceptive thinkers, reviewers have called him a latter-day Nostradamus and our "modern Thomas Paine." Now, in the first major book of its kind since the 1930s, he turns his attention to the United States' history of great wealth and power, a sweeping cavalcade from the American Revolution to what he calls "the Second Gilded Age" at the turn of the twenty-first century. The Second Gilded Age has been staggering enough in its concentration of wealth to dwarf the original Gilded Age a hundred years earlier. However, the tech crash and then the horrible events of September 11, 2001, pointed out that great riches are as vulnerable as they have ever been. In Wealth and Democracy, Kevin Phillips charts the ongoing American saga of great wealth–how it has been accumulated, its shifting sources, and its ups and downs over more than two centuries. He explores how the rich and politically powerful have frequently worked together to create or perpetuate privilege, often at the expense of the national interest and usually at the expense of the middle and lower classes. With intriguing chapters on history and bold analysis of present-day America, Phillips illuminates the dangerous politics that go with excessive concentration of wealth. Profiling wealthy Americans–from Astor to Carnegie and Rockefeller to contemporary wealth holders–Phillips provides fascinating details about the peculiarly American ways of becoming and staying a multimillionaire. He exposes the subtle corruption spawned by a money culture and financial power, evident in economic philosophy, tax favoritism, and selective bailouts in the name of free enterprise, economic stimulus, and national security. Finally, Wealth and Democracy turns to the history of Britain and other leading world economic powers to examine the symptoms that signaled their declines–speculative finance, mounting international debt, record wealth, income polarization, and disgruntled politics–signs that we recognize in America at the start of the twenty-first century. In a time of national crisis, Phillips worries that the growing parallels suggest the tide may already be turning for us all.
This book identifies sources of power that help business and economic elites influence policy decisions.