Michael Hirschorn writes:

An ever-more-stratified scale of luxury allows the staggeringly rich to avoid coming into contact with even the merely wealthy, let alone the rest of the world, “to glide through a rarefied realm unencumbered by the inconveniences of ordinary life,” as The Wall Street Journal reported. Chuck Collins, who gave away his family fortune and who now investigates inequality, describes it this way: “Wealth is a disconnection drug that keeps people apart from one another and from building authentic real connections and communities.”

Billionaires control the cable channels, social media platforms, newspapers, movie studios and essentially everything else that we consume, but for their own information sources they are in some cases more likely to trust their own kind. Semafor documented one ultraexclusive group chat that included Mr. Andreessen and Mr. Srinivasan, among others, in which the self-reinforcing discourse is reported to have pushed many Silicon Valley tycoons toward right-wing politics. “If you weren’t in the business at all,” the writer Thomas Chatterton Williams said of a similar group chat he was a member of, “you’d think everyone was arriving at conclusions independently.”

Such disconnection goes a long way to explaining why billionaires can’t grasp how the real world is convulsing outside their well-secured gates.

And convulsing it is. According to the most recent edition of an annual Harris Poll, for the first time, a majority of Americans believe billionaires are a threat to democracy. A remarkable 71 percent believe there should be a wealth tax. A majority believe there should be a cap on how much wealth a person can accumulate. [Continue reading…]