The Super-Rich The Unjust New World of Global Capitalism
In The Super-Rich , Stephen Haseler describes the dangerous growing tensions caused throughout the West by the triumphant new global capitalism. In a book for students of politics, economics and sociology, and the general reader, he outlines how a new glo
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Also by Stephen Haseler THE GAITSKELLITES THE DEATH OF BRITISH DEMOCRACY THE TRAGEDY OF LABOUR EUROCOMMUNISM ANTI-AMERICANISM THE BATTLE FOR BRITAIN: Thatcher and the New Liberals THE POLITICS OF GIVING THE END OF THE HOUSE OF WINDSOR THE ENGLISH TRIBE
The Super-Rich The Unjust New World of Global Capitalism Stephen Haseler
First published in Great Britain 2000 by
MACMILLAN PRESS LTD Houndmills, Basingstoke, Hampshire RG21 6XS and London Companies and representatives throughout the world A catalogue record for this book is available from the British Library. ISBN 978-0-333-76429-9 ISBN 978-0-230-28596-5 (eBook) DOI 10.1057/9780230285965
First published in the United States of America 2000 by ST. MARTIN’S PRESS, INC., Scholarly and Reference Division, 175 Fifth Avenue, New York, N.Y. 10010
ISBN 978-0-312-23005-0 Library of Congress Cataloging-in-Publication Data Haseler, Stephen, 1942– The super-rich : the unjust new world of global capitalism / Stephen Haseler. p. cm. Includes bibliographical references and index. ISBN 978-0-312-23005-0 1. Wealth. 2. Rich people. 3. Capitalism. 4. Income distribution. 5. International trade. I. Title HC79.W4 H375
1999 99–052035
© Stephen Haseler 2000 Softcover reprint of the hardcover 1st edition 2000 978-0-333-76428-2 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1P 0LP. Any person who does any unauthorised act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The author has asserted his right to be identified as the author of this work in accordance with the Copyright, Designs and Patents Act 1988. This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. 10 09
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Dedicated to the memory of my mentor, Tony Crosland
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Contents Preface
xi
1
The New World The super-rich Who are the billionaires? Comparisons Richer still, yet richer Getting greedier? Anyone for noblesse oblige? Where is the money? Families and corporations Family inheritance A ruling class? An overclass? `The world is in the hands of these guys' Onward and upward
1 1 4 7 10 11 12 12 13 15 17 19 24 25
2
The Super-Rich Game The up-escalator to Brazil Capital unbound (globalisation) You ain't seen nothin' yet Fear and blackmail: `the Faustian pact' Have we been here before? Technology Corporate unbound: space stations circling the Earth Corporations and free trade Hostages to the system: pensions
27 27 29 31 32 33 36 37 40 41
3
The Rest of Us (or the End of the Western Dream) That sinking feeling Inequality Wealth Tolerati
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