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The global elite is a loosely defined group of the richest and most powerful people in the world,[1] including "politicians, central bankers, chief executives and lesser mortals"[1] like those who gather at the annual World Economic Forum in Davos, Switzerland,[2][3][4] traditionally held near the end of January.[5]

Overview[edit]

The "elite" is partly defined by wealth, featuring the world's millionaires and billionaires. Some of them work for large corporations such as Goldman Sachs and Bank of America.[6] Others include successful entrepreneurs in the emerging markets of India and the People's Republic of China.[7] Due to an Internet-connected society that is growing at a rapid pace despite recent economic woes, East Africa is also reaching the top list of global economic relevance.[7] Many millionaires can be found in that region, especially in South Africa,[8] where 80% of the twenty wealthiest residents are self-employed.[9] Members of the global elite may tend to be insular and benefit from unregulated capitalism.[7] Some of them may form a "transnational leisure class,[10]" sometimes depicted as "the beautiful people," whose influence transcends the boundaries of nations to form a worldwide social group based on a "trinity" of glamour, wealth and power.[10] The global elite also normally send their children to boarding schools in Switzerland and United Kingdom.[citation needed]

In the wake of the Great Recession, a separate economy for the global elite has appeared to have recovered while the economy for the working class is still under large elements of turmoil.[11] Innovations made by the elite corporations (for example, the search engine Google, the multinational electronic commerce site Amazon.com and the iPhone line of smart phones) improved the lot of the working-class people while granting their creators significant levels of wealth.[11] Most of the Internet elites are highly educated people who made their own wealth.[11] They tend to hold mixed feelings towards their peers who have failed in their education.[11]

The global elite are regarded by many as the "movers and shakers of the world economy,"[12] while others caution that their power over the world economy is very limited.[2] Conspiracists accuse them of using secretive societies like the Bilderberg Group and the Council on Foreign Relations to manipulate world events.[6]


Effect on the economy[edit]

The emerging clique of super-rich business people are practically becoming their own nation, buying houses outside their country of primary residence, for example.[11] Members of the global elite may hold a globalist perspective and not contribute to the economic growth of their home countries.[13]

The global elite may hide trillions of British pounds inside off-shore havens like the Cayman Islands and Switzerland through the help of privately owned banks. It has been suggested that closing the tax loopholes that allow these tax havens to exist may diminish the power of the global elite and allow federal governments to pay off their fiscal deficits sooner.[13] Leaders from the G-20 member nations have been trying to shut down areas that are designated as "tax havens" since the beginning of the 2008 financial crisis, when the private banks threatened to complicate the stability of the global monetary system.[14]

See also[edit]

References[edit]


Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Global_elite — Please support Wikipedia.
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203 news items

RT (blog)

RT (blog)
Tue, 12 Aug 2014 06:09:50 -0700

In recent decades, dozens of sovereign nations have fallen into ever-deepening trouble by becoming indebted with the “private megabank over-world” for amounts far, far in excess of what they can ever pay back. Is this due to bankers' professional ...

Slate Magazine (blog)

Slate Magazine (blog)
Fri, 08 Aug 2014 05:30:06 -0700

Rather, it was that measuring the riches of the global elite is a complicated, inexact science that economists are only beginning to grapple with. Even Piketty says that the data set he used in Capital to illustrate the American wealth gap is probably ...

Center for Research on Globalization

Center for Research on Globalization
Tue, 29 Jul 2014 13:00:43 -0700

Victoria Nuland — who acted as the front person for the State Department's coup in Kiev — bluntly expressed the opinion of the United States toward the European Union back in February. Nuland employed a choice expletive when she dismissed the glacial ...
 
Insurance News Net
Tue, 29 Jul 2014 00:18:45 -0700

Global Elite Group (GEG), increases cargo security, screening and escort services worldwide. Improved aviation security programs are expanded to cargo for passenger protection and the securing of valuables. "GEG has developed new programs for clients ...

BioPrepWatch

BioPrepWatch
Mon, 04 Aug 2014 07:43:01 -0700

Global Elite Group Security and emergency management services company Global Elite Group (GEG) was recently recognized by Government Security News Magazine's 2014 Airport, Seaport, Security Border Security Awards Program. The company won the ...

BioPrepWatch

BioPrepWatch
Thu, 31 Jul 2014 08:02:35 -0700

Global Elite Group (GEG), a security and emergency management services provider, announced the expansion on Tuesday of its cargo security, screening and escort services throughout the world. The Transportation Security Administration (TSA)-certified ...

Center for Research on Globalization

Center for Research on Globalization
Fri, 01 Aug 2014 12:07:30 -0700

We have been told by much of Western MSM that Air Algerie flight 5017 (hereinafter AH 5017) and its 117 passengers (according to the airline) lost contact with the ground and subsequently crashed in Mali on 7/24due to heavy weather. A simple, tidy ...
 
Commercial Observer
Thu, 21 Aug 2014 07:26:15 -0700

Luxury clothing stores have long coalesced on and around 57th Street below Central Park. Now, tenants catering to the global elite of Billionaires' Row are putting down stakes. After all, the penthouse at Extell's One57 tower sold for over $90 million ...
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