This in itself was disturbing to many rich people, who preferred to talk about reducing poverty or extending opportunity, not about more thoroughgoing reforms that would perhaps require sacrifice.

Thus state intervention came to be discredited by a value proposition that was no longer aligned with individual aspirations. The laissez-faire approach was never attractive: it deprived the poor and even the middle class of access to affordable essential services. But the interventionist counter-offer ended up looking not that attractive, either:

the concept of “afflicting the comfortable and comforting the afflicted” can also be a mechanism for maintaining political capital.

The greatest resentment is likely to be centered among those of middle talent in currently rich countries. They particularly may come to feel that information technology poses a threat to their way of life. The beneficiaries of organized compulsion, including millions receiving income redistributed by governments, may resent the new freedom realize

Only a few defenders of economic liberalism oppose this powerful tendency, but they become more and more timid

If you’re on the left, when you hear the word “finance”, you’ll likely think of a hyper-individualised pursuit of personal wealth, or the power that large financial institutions have had over society, especially in the fallout of the 2008 recession. If you’re on the right, you may think of the more “entrepreneurial” aspects we associate with financ