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Politics, Economics, And Culture

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The fundamental social question of our age is what will be the ways in which societies reconcile the disproportionate distribution of wealth in nations. Especially with regard to its effects on politics, economics, and culture. Already, this inequality produces an aristocratic class who influences public policy. This influence leads to economic conditions impoverishing the citizenry while enriching the elite. The elite uses this accumulated power for their own interest instead that of society. As a result, contemporary democratic states devolve into aristocratic states managed by oligarchs. Through the latter part of the twentieth century and onward, economic elites have established policies that benefit the wealthy. Whether by lobbying or contributing to political campaigns, the upper class can have sway over a nation-state. Empirically, it is shown that the majority of Americans has little influence, in contrast to the wealthy elite that predominate policymaking (Gilens and Page 577). As such, policies of deregulation, privatization and free trade can proliferate under the reign of one group. Furthermore, there are reasons why the wealthy attained their power. The reasoning behind is the rapid accumulation of capital by the rich, In Capital in the Twenty- first Century, Thomas Piketty asserts that “the rates of return on capital exceeds the rate of growth of output and income, as it did in the nineteenth century and seems quite likely to do again in the twenty-first,

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