But with some important caveats, coastal elites do bear a resemblance to the market-dominant minorities of the developing world. American politics today has as much in common with the developing world as it does with Europe. Time and again, vote-seeking demagogues with few political credentials have swept to power in developing countries by tapping into deep-seated resentment toward a market-dominant minority. Venezuela, too, has a market-dominant minority: the light-skinned, insular elite that historically controlled the country’s corporate sector and its staggering oil wealth. Research shows that zero-sum political tribalism is worst under conditions of economic insecurity and lack of opportunity.

Source: New York Times February 20, 2018 19:52 UTC