There is today a division of labor between the elite and the masses. In medieval Europe aristocrats spent their money carelessly on extravagant luxuries whereas peasants lived frugally minding every penny. Today the tables have turned. The rich take great care managing their assets and investments, while the less well-heeled go into debt buying cars and televisions they don’t really need.

There is today a division of labor between the elite and the masses. In medieval Europe aristocrats spent their money carelessly on extravagant luxuries whereas peasants lived frugally minding every penny. Today the tables have turned. The rich take great care managing their assets and investments, while the less well-heeled go into debt buying cars and televisions they don’t really need.

– Yuval Noah Harari –

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