When the talking heads on TV talk about the wealth gap, they inevitably equate it with everyone else’s ultra-rich verses. Historian and philosopher Matthew Stewart argues that this simplistic thinking omits a third segment of society that unwittingly increases inequality. Grunt a hello to “The 9.9%,” the subject of his book of the same title.
Book review: In ‘The 9.9 Percent,’ the author examines who really supports inequality in the United States | Arts
According to Stewart, 0.1% of all Americans currently own a quarter of everything of economic value in the country. The bottom 90% currently have a third less of the total value they once held in 1963. Then there are the 9.9%, whose assets range between $1.2 million and $20 million.
In examining this group, Stewart takes the Marks/Engels concept of class struggle and gives it a red, white and blue twist. The 9.9% are not your stereotypical bourgeoisie, deliberately appropriating the wealth created by the proletariat. Rather, they are doctors, lawyers, middle managers, small business owners. They are the achievers and go-getters in the tradition of the American dream, working and fighting their way to grab a slice of the prosperity pie.
It’s an admirable quest, Stewart acknowledges, but trouble begins when these wannabe guys climb the mountain with blinders on. The 9.9ers can’t (or won’t) see how their freshly won privilege prizes disqualify or disqualify the bottom 90%. Higher education, valued homes, strong communities, healthy lifestyles, and even romantic relationships become out of reach for people in the lower deciles.
