... the richest '1% of the population owned 42% of personal wealth, 5% owned 75% and 10% owned 83%', and America's similar statistics that in 1953, 75% of corporate stock was divided between 1% of adults' (Miliband pp25-26), he attacks any belief in 'People's Capitalism' as invalid due to the fact that this 1% is a 'self-perpetuating oligarchy' entirely inaccessible to ... wholly owned and efficiently run by owner-entrepreneurs' (p36), not the symptom of a 'transcendence of capitalism', but rather the enlargement of it. Quoting Meynaud's La Technocratie, in which the Fren...

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• Grade Level: Graduate