Wealth Hoarding by ‘Silver Spoon Oligarchs’ Is Endangering U.S. Democracy

The growing concentration of wealth in fewer hands—including among corporate robber barons’ descendants who continue, after multiple generations, to wield the “financial, political, and philanthropic clout” afforded by enormous inheritances to “advance their dynasty-building agenda”—intensifies working-class suffering in the U.S. and poses a threat to society and democracy.

That’s according to Silver Spoon Oligarchs: How America’s 50 Largest Inherited-Wealth Dynasties Accelerate Inequality, a new report out Wednesday from the Institute for Policy Studies.

Analyzing data from Forbes, IPS tracked the assets of the country’s 50 wealthiest families—”including the Waltons, the Kochs, the Mars family, and many others, some well-known and others relatively unknown”—from 1983 to 2020.

— source commondreams.org | Kenny Stancil | Jun 16, 2021

Nullius in verba


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