You know the stereotypes already. Both Obamas come from what might loosely be called the intellectual/academic meritocracy, the “liberal elite,” the post-WASP Ivy League, easily caricatured as the world of free-trade coffee, organic arugula, smug opinions and Martha’s Vineyard. The Romneys, by contrast, belong to the financial oligarchy, the “global elite,” the post-financial-deregulation world that is just as easily caricatured as one of iced champagne, offshore bank accounts, dressage trainers and private islands. …

But while you might think one or the other group more preferable or more offensive for reasons of politics, culture or taste, you certainly cannot argue that either of them is in close touch with “average” or “ordinary” or even “middle-class” people, however those terms might be defined. And although they and their supporters may shout about “radical left-wing professors” on the one hand or “Gordon Gekko” on the other, neither Obama nor Romney can plausibly claim to leading a populist revolution against the “elites” who are allegedly destroying America.