Adam Tooze<\/p>\n\n\n\n
Oligarchs, wealthy and influential capitalists – what you might call \u201cpersonal capital\u201d as opposed to \u201cinstitutional\u201d or \u201csocietal\u201d or \u201cclass\u201d capital – are an increasingly important feature of contemporary political economy.<\/p>\n\n\n\n
The profile of this top wealth is worth understanding.<\/p>\n\n\n\n
There are about 3500 people worldwide worth more than $1 billion. Their share of global wealth is \u201conly\u201d roughly 3-3.5 %. Nevertheless, their huge wealth, the business and technological wagers they engage in, their political, societal and cultural alignments exert an outsized influence on contemporary reality.<\/p>\n\n\n\n
I\u2019m not at all convinced by talk of a neo-feudal mode of production. But we clearly do live in a world in which this kind of oligarchic, capitalist \u201caristocracy\u201d matters more than it did in the age of corporate capitalism or even first stage financialization where the talk was of \u201cshareholder value\u201d.<\/p>\n\n\n\n
\u03a0\u03b7\u03b3\u03ae: https:\/\/adamtooze.substack.com\/<\/a><\/p>\n\n\n\n