The 10 Percent Is in a Fit of Rage over Airport Lounges
8 days ago
- #economic inequality
- #professional-managerial class
- #elite overproduction
- David Mack's op-ed in The New York Times criticized airport lounges for becoming too accessible, sparking debate on 'elite overproduction.'
- The concept of 'elite overproduction' suggests societies produce more highly educated individuals than premium jobs or experiences available.
- Economic troubles stem from global oversupply of labor and capital, depressing living standards and fueling financial speculation.
- The professional-managerial class faces declining prospects, with recent college graduates in STEM fields experiencing higher unemployment rates.
- Peter Turchin's theory links elite overproduction to political polarization and fragmentation, evident in current societal divisions.
- Despite economic frustrations, the professional-managerial class focuses more on identity politics than economic inequality issues.
- The article questions why affluent voters, despite polls showing interest in economic justice, don't prioritize working-class economic issues.