Burned by Billionaires

Recently, it has become increasingly evident that extreme concentrations of wealth and power have profound impacts on our politics, but extreme inequality's influence on our daily lives—and our futures—has been vastly overlooked. In Burned by Billionaires, author and a senior scholar at the Institute for Policy Studies in Washington, DC, Chuck Collins chronicles how the actions of the top .01% have severe consequences for the rest of us. Collins takes down the "myth of meritocracy," unraveling how the rich rig the game in their favor, resulting in a concentration of wealth in the hands of a tiny (but growing) class of billionaires—leading to intense income and political polarization. Collins charts this economic, social, and ecological destruction and shows how these effects manifest in every facet of our society. Collins argues that perhaps, worst of all, the concentration of wealth and power is leading to political hijacking, undermining the democratic principle that our votes matter equally. This book is an urgent call-to-action and road map to a more equitable society, where everyone has access to the resources that will allow them to thrive. Burned by Billionaires offers a pointed prescription for taking power back from the billionaire class and achieving the shared prosperity that comes from a healthy and equal society.