Class Homicide

There’s much talk today, from left and right, about threats to democracy, yet little focus on the social dynamic critical to its survival. In this respect, we may see the current, and troubling, escalation of violent political rhetoric, and even political violence, not so much as the cause of polarization but the result of changing class dynamics, most notably the increasingly perilous state of the yeoman middle class.

The United States, and much of the high-income world, is going through a revision of class relations resonant with gilded age, or even feudal models. A recent British parliamentary study projects that by 2030, the top one percent will expand their share to two thirds of the world’s wealth, with the biggest gains overwhelmingly concentrated at the top one percent of the top one percent—the top 0.01 percent.Similarly, in this country, since the mid-1980s, the share of national wealth held by those below the top 10 percent has fallen by 12 percentage points, the same proportion that the top 0.1 percent gained.As one conservative economist put it succinctly in 2018, “The economic legacy of the last decade is excessive corporate consolidation, a mas­sive transfer of wealth to the top 1 percent from the middle class.”

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