The oligarchs may feel they deserve dispensation from the masses by their “good deeds”, but people are not as stupid or malleable as the ruling elites believe. Trust in major corporations, never too robust, is below 20%, less than one third that for small businesses. It is slowly becoming apparent that ‘woke capitalism’ will never solve divisions which are essentially economic. The key, notes Richard Parsons, former President of Citigroup, lies not with racial quotas or hiring transgender workers but the economic growth and opportunity. There will never be “unity”, he suggests, until people “feel it in their pockets”.

The question now is whether there will be sufficient pushback to turn the tide. Unlike local school boards, online magazines, and even alternative colleges, it’s difficult to replace or challenge an Amazon, Apple, Microsoft, Google, or Morgan Stanley. Yet fortunately these institutions do not yet control all wealth. Big companies may have shamed themselves out of oil and gas, but investors are ramping up due to the soaring price of these assets.

So, here’s the good news. On what sometimes seems the inexorable course towards progressive capture, we can see multiple fronts of resistance, and the early congealing of independent-minded forces, from the rational Right to the traditional liberal-left. Our society may never regain the feistiness of previous eras, and our new elites might continue marching through our institutions. But as they become increasingly discredited, they would be unwise to forget that all long marches one day come to an end.