In 2021 and 2022, a representative survey on attitudes toward the market economy and capitalism was conducted in 34 countries. Among other things, respondents were presented with 18 positive and negative statements about capitalism. The result shows what particularly bothers people about capitalism – and what bothers them less. In 33 out of 34 countries (the only exception being Vietnam), the critical statement that “Capitalism is dominated by the rich, they set the political agenda” is among the five most frequently selected statements.

This is also the subject of John O. McGinnis's book, “Why Democracy Needs the Rich” (Encounter Books, New York, London, 2026). Unlike other books, it is not primarily about the – depending on the author’s perspective – positive or negative contribution of the rich to the economy. The main topic, as the book’s title suggests, is why the rich are important for the functioning of a democratic society. Democracy is often simply understood as rule by the majority, where each citizen has equal influence. McGinnis, by contrast, emphasizes the difference between direct and representative democracy. “The notion that everyone can wield anything approaching equal influence in our democracy is fundamentally unrealistic.”

In reality, there are groups that have far greater influence, such as journalists, intellectuals, and entertainers. According to McGinnis, these groups in particular hold fairly homogeneous political views. Studies have shown, for example, that at American universities the ratio between professors with left-leaning and conservative views is 13:1. Left-leaning opinions also strongly dominate the media and the entertainment industry (Hollywood). These groups shape public opinion and have far more influence than the average citizen.

When wealthy individuals finance think tanks, this provides a counterbalance, especially since the rich are by no means as politically homogeneous as intellectuals. Campaign donations show that the ratio between wealthy individuals who support Democrats and Republicans is relatively balanced. A central thesis of the........

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