California’s postindustrial growth concentrated gains among entrepreneurs and asset owners

Evidence

In Philip Stephens’s words, ‘[t]he benefits of growth have been enjoyed most by the entrepreneurs in Silicon Valley and by the small proportion of the population with large property and financial assets.’ — Alex Callinicos, Against Postmodernism, 473

Categorization

• QUESTION: Worth chasing the full Stephens quote — this is a thin but precise claim about distributional outcomes of postindustrial growth.
• XREF: connects to: Post-reform Indian economic growth concentrated wealth in few hands; Heightened competition redistributed income upward despite energizing growth — David Harvey, The Condition of Postmodernity: An…, 1046; Postindustrial coastal elites monopolized economic, social, cultural, and political capital — W. David Marx, Blank Space: A Cultural History of the…, 433 (+2 more)

Broader Connections

• Postindustrial coastal elites monopolized economic, social, cultural, and political capital #expands (0.85) — W. David Marx, Blank Space, 433
• Post-reform Indian economic growth concentrated wealth in few hands #corroborates (0.82)
• Wealth concentration has accelerated dramatically across major economies #expands (0.78) — Clara E. Mattei, Escape from Capitalism, 27
• Heightened competition redistributed income upward despite energizing growth #corroborates (0.75) — David Harvey, The Condition of Postmodernity, 1046