Reader question:
In this paragraph - It seems that inequality is greater now than it has been since the 1920s. There is a New Guilded Age of the rich in ever bigger mansions and the poor looking in through the gates (For Richer for Poorer, BBC Radio, May 16, 2007) - what does "New Guilded Age" mean?
My comments:
"Gild" seems to be in vogue right now. Last week, we dealt with "gilding the lily". Today, we'll talk about the Gilded Age.
Yes, the Gilded Age, not the Guilded Age. Actually, I double checked the BBC website - they do have Guilded in print for Gilded and that is a typo mistake. And oh, how liberating, by the way, just to know that even the BBC commits spelling errors, lol.
Anyways, the Gilded Age is in other words a golden era. The New Gilded Age for the super rich means simply that this is the time of the billionaire, not to mention the traditional millionaires - oh, poor dears.
With globalization, the so-called free trade and what have you, international capitalism is running rampant at an unprecedented pace and scale. And as a result, people, a few of them that is, are piling up the big bucks.
As the BBC story tells, "there are nearly 1,000 billionaires in the world, while millions live on less than a dollar a day." Apparently one of the terrible things the super rich do is that they make the rest of us look even poorer.
But let's quit the rich and poor for a moment and talk about the Gilded Age itself. The phrase was coined by Mark Twain, who co-wrote a book of the same title with Charles Dudley Warner back in 1873.
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