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For Ferguson, he and his fellow MarketWorld elites had been drafted into a new class war. It was no longer rich versus poor but rather people who claimed to belong to everywhere versus people stuck somewhere—echoing his colleague Michael Porter’s notion of somewhere people and everywhere companies. In Ferguson’s telling, from the same essay as earl

for two reasons, Cordelli said: “because you’re worth nothing without society, and also because we would all be dominated by others without political institutions that protect our rights.”

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And as the fallout from the crash spread, many of those cut loose had been drafted into joining a new American servant class.

recent years, Giussani noticed how elites seemed increasingly guided by lite facsimiles of change. These ideas largely exempted markets and their winners from scrutiny, despite their immense power in deciding how people’s lives were lived and their support for a system that produced extraordinary fortunes and extraordinary exclusion. These notions

These notions of change were shaped and hemmed in by the complex of “intellectual assumptions that have dominated the last two decades,” Giussani said. Among them: “Businesses are the engines of progress. The state should do as little as possible. Market forces are the best way at the same time to allocate scarce resources and to solve problems. Pe

“Is the playing field on which I accumulated my wealth level and fair? Does the system privilege people like me in ways that compound my advantages?” Were the rich, as Carnegie had presented them, the transitory guardians of progress’s fruits, or were they hereditary hoarders of that progress?