Last week’s Newsweek magazine contained a truly amazing piece, (“Rich America, Poor America,” Niall Ferguson, 1/23/12). Billed as a “conservative historian’s solution” to the issue of growing inequality in our nation, this piece stands out not because of any true “solution” that is offered here, but for the real peek at how the wealthy actually look at us and the world they live in.
The issue of inequality isn’t seen as a great mystery, most might point to the capitalist class structure of our nation and the ongoing class struggle. There, according to Ferguson, is where you’d be wrong. Not so, he says! The rising inequality has its source in the fact that the “upper class has gotten rich because of the financial returns on brain-power,” and they “produce a disproportionate number of the smartest children.”
If that formulation just slapped you in the face with its open arrogance, Ferguson is just getting started.