Quotulatiousness

March 25, 2018

The appearance of wealth

Filed under: Europe, Greece, History, USA — Tags: , , , — Nicholas @ 05:00

Victor Davis Hanson on how the wealthy once were eager to appear as distinct from the common herd as possible:

Even in the mostly egalitarian city-states of relatively poor classical Greece, the wealthy were readily identifiable. A man of privilege was easy to spot by his remarkable possession of a horse, the fine quality of his tunic, or by his mastery of Greek syntax and vocabulary.

An anonymous and irascible Athenian author — dubbed “The Old Oligarch” by the nineteenth-century British classicist Gilbert Murray — wrote a bitter diatribe known as “The Constitution of the Athenians.” The harangue, composed in the late fifth century B.C., blasted the liberal politics and culture of Athens. The grouchy elitist complained that poor people in Athens don’t get out of the way of rich people. He was angry that only in radically democratic imperial Athens was it hard to calibrate a man by his mere appearance: “You would often hit an Athenian citizen by mistake on the assumption that he was a slave. For the people there are no better dressed than the slaves and metics, nor are they any more handsome.”

The Old Oligarch’s essay reveals an ancient truth about privilege and status. Throughout history, the elite in most of the Western world were easy to distinguish. Visible class distinctions characterized ancient Rome, Renaissance Florence, the Paris of the nineteenth century, and the major cities of twentieth century America.

A variety of recent social trends and revolutionary economic breakthroughs have blurred the line separating the elite from the masses.

First, the cultural revolution of the 1960s made it cool for everyone to dress sloppily and to talk with slang and profanity. Levis, T-shirts, and sneakers became the hip American uniform, a way of superficially equalizing the unequal. Contrived informality radiated the veneer of class solidarity. Multimillionaires like Bruce Springsteen and Bono appear indistinguishable from welders on the street.

The locus classicus is perhaps Facebook owner Mark Zuckerberg, who wears T-shirts, jeans, and flip flops to work. His reported wealth of $71 billion makes him the world’s fifth-richest man. The median net worth of Americans is about $45,000. Zuckerberg is worth more than the collective wealth of about 1.5 million Americans — or about all the household wealth in Philadelphia put together. And yet, he looks perfectly ordinary. When I walk the Stanford campus — where many of the world’s wealthiest send their children — the son of a Silicon Valley billionaire looks no different from a machinist’s daughter on full support from Akron.

Second, technology has done its part to dilute superficial class distinctions. The nineteenth-century gap between a rich man in his fine carriage — with footman and driver — and someone walking three miles to work has disappeared. The driving experience between a $20,000 Kia bought on credit with $1,000 down and a $80,0000 Mercedes paid in cash is mostly reduced to the superficial logo on the hood and trunk. An alien from Mars could not easily distinguish, at least by sight, between the two cars. Even after a ten-minute ride, an alien might be puzzled: What exactly did that extra $60,000 buy?

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