The net result of hyper-globalization and hyper-financialization is the crumbling of the middle class.
Neofeudal societies and economies lack a vibrant middle class. This is the defining feature of feudalism and its updated V2.0, neofeudalism: a nobility (based on birth or finance, it doesn’t matter) controls the vast majority of wealth, political power and productive capital, all served by a powerless peasantry.
Read more here: https://charleshughsmith.blogspot.com/2023/02/the-core-of-economy-middle-class-is.html
