The New Feudalism

Joel Kotkin writes in Newgeography about the dominance of tech oligarchs, concentrated in CA.  Along the way he describes the direction of the CA economy and the possibility it may presage the nation's future economy.

The new political configuration works in classic medieval fashion, with the rich providing the necessities for the poor, without providing them opportunity for upward mobility or the chance, God forbid, to buy a house in the outer suburbs.

This ‘upstairs-downstairs’ California coalition could presage the country’s political future. Perhaps it’s best to think of it as a form of high-tech feudalism, in which the upper classes run the show, but bestow goodies on the struggling masses. This alliance will allow the present tech oligarchs to thrive without facing a populist challenge that could interfere with their profits and expansion into other markets.

Hat tip to RealClearPolicy for the link.