I don't really buy the premise of the book, but I did wander in to this social circle once by accident in my youth. A friend of mine had by weird historical contingency ended up on one of their soccer youth teams, and got invited along to the parties every year by fiat. I was her plus one.
My overwhelming impression was of basically nice (but money-obsessed) noodleheads. During the secret santa (it was Christmas), gift values were all over the map because they didn't have a sense of the difference between $20 and $200, and something like a third of the gifts were a bottle of lemoncello for some reason? Only one or two were employed in a traditional sense, and those were sinecures- part-time work that paid $400,000 a year, to 'tide them over' I think was the phrase; they were embarrassed about it. Another one cornered me pretty early on and started asking a bunch of unusual questions about my personal life, not just where I went to college or what my major was, but odd little details. I was rescued by my date who walked up and said (to both of us), "she's trying to figure out whether you're old money or new money." I just said, "Oh! I am not money." And then we had a little laugh about it and went back to a normal and mutually respectful conversation.
They were perfectly nice, really, but it was eye-opening how much it was clearly a social network first, where money just happened to flow very freely and was a primary topic of conversation; it was absolutely a 'class' barrier that I'd crossed, in the old-fashioned sense. I wasn't there nearly long enough to get a bead on the deeper mythologies of the set, but they definitely had a parallel understanding of money that made 'earning' it worse, not better. They were also pretty tryhard about being 'eccentric' and quirky, I guess because it was taboo to talk about accomplishments so they needed something else to talk about over dinner, and the ones winning the game were the ones who made the money seem like it just sort of rained down on them from the clouds.
In retrospect, the most interesting thing about it is that all of their wealth depended on internal and inward-facing connections to this group, or I guess being part of inherited/family wealth from it, and nothing depended on any reputation or actions outside of it; they lived on investment income and such, but hired other people to make the investments. So it seems like a sort of socioeconomic 'dark matter' where I have no idea how many people live like this or how much wealth overall they possess. It was just a few dozen at the party, anyway. I'm not sure it even *matters*; I think in economic terms, their function was mostly to be the name at the top of large currency reservoirs being exploited by the financial industry. Whether they're shrinking as a group or holding on in to the 21st century, I have no idea, and I can't imagine there being any broader social consequences either way.
> something like a third of the gifts were a bottle of lemoncello for some reason?
Presumably some marketing consultant a couple of rungs of the socioeconomic ladder below said party-goers worked very hard to to make it that chrismas' fad, so that some company in Italy could soak lemon peel in vodka for six weeks then sell it at an astronomical markup.
See also: Jägermeister in the anglophone world; the invention of Baileys in 70's London; $SUPERFOOD_DU_JOUR; etc.
I don't really buy the premise of the book, but I did wander in to this social circle once by accident in my youth. A friend of mine had by weird historical contingency ended up on one of their soccer youth teams, and got invited along to the parties every year by fiat. I was her plus one.
My overwhelming impression was of basically nice (but money-obsessed) noodleheads. During the secret santa (it was Christmas), gift values were all over the map because they didn't have a sense of the difference between $20 and $200, and something like a third of the gifts were a bottle of lemoncello for some reason? Only one or two were employed in a traditional sense, and those were sinecures- part-time work that paid $400,000 a year, to 'tide them over' I think was the phrase; they were embarrassed about it. Another one cornered me pretty early on and started asking a bunch of unusual questions about my personal life, not just where I went to college or what my major was, but odd little details. I was rescued by my date who walked up and said (to both of us), "she's trying to figure out whether you're old money or new money." I just said, "Oh! I am not money." And then we had a little laugh about it and went back to a normal and mutually respectful conversation.
They were perfectly nice, really, but it was eye-opening how much it was clearly a social network first, where money just happened to flow very freely and was a primary topic of conversation; it was absolutely a 'class' barrier that I'd crossed, in the old-fashioned sense. I wasn't there nearly long enough to get a bead on the deeper mythologies of the set, but they definitely had a parallel understanding of money that made 'earning' it worse, not better. They were also pretty tryhard about being 'eccentric' and quirky, I guess because it was taboo to talk about accomplishments so they needed something else to talk about over dinner, and the ones winning the game were the ones who made the money seem like it just sort of rained down on them from the clouds.
In retrospect, the most interesting thing about it is that all of their wealth depended on internal and inward-facing connections to this group, or I guess being part of inherited/family wealth from it, and nothing depended on any reputation or actions outside of it; they lived on investment income and such, but hired other people to make the investments. So it seems like a sort of socioeconomic 'dark matter' where I have no idea how many people live like this or how much wealth overall they possess. It was just a few dozen at the party, anyway. I'm not sure it even *matters*; I think in economic terms, their function was mostly to be the name at the top of large currency reservoirs being exploited by the financial industry. Whether they're shrinking as a group or holding on in to the 21st century, I have no idea, and I can't imagine there being any broader social consequences either way.
> something like a third of the gifts were a bottle of lemoncello for some reason?
Presumably some marketing consultant a couple of rungs of the socioeconomic ladder below said party-goers worked very hard to to make it that chrismas' fad, so that some company in Italy could soak lemon peel in vodka for six weeks then sell it at an astronomical markup.
See also: Jägermeister in the anglophone world; the invention of Baileys in 70's London; $SUPERFOOD_DU_JOUR; etc.