Exit America’s Old Elite


I don’t know if Trump’s election is good or bad but it is a disruptive change in the establishment for sure. Similar thing happened in India when the old elite were forced out in the last election. After years of risk averse voting, looks like people are willing to take the risk.

Trump’s challenge to the status quo isn’t the revolutionary variety that’s about lifting up the poor and bringing down the rich. His tax cuts would reinforce the economic power structure by giving the biggest benefits to his fellow billionaires. The elites that his supporters detest are the kind of city-dwelling Ivy Leaguers tightly linked to lobbying firms and banks, who have become fixtures among the capital’s circle of influencers since the early 1990s. Some of the most resented elites are the latest to join—“the new ‘pretenders’ in the cosmopolitan elite such as professional women and people of color,” Karen Hult, a political scientist at Virginia Tech, wrote in an e-mail.

The complete article

Peter Coy, Matthew Philips, Josh Eidelson — Bloomberg

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