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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]

External links[edit]

References[edit]


Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Global_elite — Please support Wikipedia.
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214 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 ...

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 ...
 
Intifada Palestine
Mon, 01 Sep 2014 06:36:17 -0700

This instantly translates itself into the dimensions of a spiritual confrontation more so than the collective greed of a few global elite. Hence, President Putin's announcement of being Christian takes on an infinitely more impactful place in the ...

Sky Valley Chronicle

Sky Valley Chronicle
Sat, 30 Aug 2014 02:43:53 -0700

The deeper implications of that infernal debt cycle were explored by Argentine political analyst Adrian Salbuchi in an August 12th article titled “Sovereign Debt for Territory: A New Global Elite Swap Strategy.” Where territories were once captured by ...

Economic Times

Economic Times
Thu, 28 Aug 2014 21:50:06 -0700

WEF, which each year gathers the global elite in the plush Swiss ski resort of Davos, launched its NETmundial Initiative in a bid to build on the outcome of a large conference in Brazil in April that called for a transparent, multi-stakeholder approach ...

Citifmonline

Citifmonline
Thu, 28 Aug 2014 06:41:15 -0700

On top of that, these wealthy immigrants contribute to the local economy by buying houses, purchasing cars, and paying school tuition for their children, Wolfsdorf said. But there are plenty of critics. Some argue that the program is a way for the ...

Toronto Star

CounterPunch
Mon, 25 Aug 2014 08:00:00 -0700

The deeper implications of that infernal debt cycle were explored by Argentine political analyst Adrian Salbuchi in an August 12th article titled “Sovereign Debt for Territory: A New Global Elite Swap Strategy.” Where territories were once captured by ...
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