The Surplus of Elites in the Digital Economy

In End Times, Peter Turchin reveals that despite not being richer, there are more billionaires today. This is due to the wealth pump, an exponential digital economy that generates billionaires. Unlike the past, their empires are built on virtual commodities like likes and views. However, their operations mostly result in destruction, slavery, and mining. While the auto industry once made the middle class wealthy, Silicon Valley businesses make most of us poorer, as seen with the presence of tent villages around corporate headquarters.