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Summary Of Plutocrats By Chrystia Freeland

791 Words4 Pages

Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else is a book written by Chrystia Freeland discussing the current rise of wealth and power among richest of the richest in the country. It deals with the brutal competition of being on the top of wealth chart and how its impact on middle class and lower middle class. Not long ago, fall of 2011, the occupy wall street movement triggered a phenomenon, that received not only nationwide but also global attention for the struggle of money among the wealthiest top percentile, and its affect of injustice and inequality among the rest of the masses. Plutocrats take the timeline from there and the change it brought among the 0.1% billionaires that left the rest of the competition and went for global monopoly in wealth. Plutocrats discusses how this changed the equilibrium of wealth; as the competition got fiercer by day and the gap among the rest of the competition widened at an alarming rate due to globalization in the field of commerce and how it helped the richest to extend their value and wealth exponentially. …show more content…

She has break down their source of income, their rise, and the factors that contributed to their multiplication of wealth and power. A comparison of Plutocrats with the top few of the past marks a huge difference in trend. The self-made billionaires of past followed an opposite trend compared to the elite today. The elite today follow a path that only looks glorious for the rest, charitable organizations, funds etc. This public image façade may give an impression of philanthropists, however it serves their own needs as it projects an image that the Plutocrats are working for the common good. Of course the reality is total

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