ULTIMATELY, THE CHINESE ARE PROBABLY BEHIND THIS: Joel Kotkin: The rich are eating themselves: The oligarchs are playing a dangerous game by pouring trillions into woke causes.

The recent ‘Great Awokening’ of our elites reflects a long-standing shift among executives in terms of priorities and perspective. The capitalist class first arose out of the middle orders, and even from within the peasantry, as the industrial revolution, particularly in the Netherlands and Britain, challenged the autocracy of both the church and the monarchical state. These were often tough, ruthless entrepreneurs embodying values of hard work, thrift, family and faith.

But with the managerial revolution of the 1950s, the nature of executive elites changed. As sociologist Daniel Bell first identified half a century ago, business leaders were no longer upstarts and thus the natural opponents of state power. Instead, they reflected a new type of individualism, unmoored from religion and family, a worldview which transformed the foundations of middle-class culture. The goal of this new executive class, as Bell saw it, was not so much building great companies, but gaining accolades from their peers, the press and the public – a trend also set out in Alvin Toffler’s 1980 book, The Third Wave.

And, as I have noted, the fact that our ruling class is a monoculture makes it much more vulnerable to fads and mass hysteria.