From ‘The Coming of Neo Feudalism’, by Joel Kotkin
Globally, the ultrarich are an emergent aristocracy. Fewer than 100 billionaires now own as much as half of the world’s assets. The concentration of wealth is also clear in property ownership. In much of the American West, billionaires have created vast estates that many fear will make the rest of the population land-poor. Land ownership in Europe too is becoming more concentrated in fewer hands. In Great Britain, where land prices have risen dramatically over the past decade, less than 1% of the population owns half the land. On the continent farmland is being consolidated into larger holdings, while urban real estate has been falling into the hands of a small number of corporate owners and the mega-wealthy...
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