I think Noonan is referring to the elite not just as wealthy, but secure in their ‘place’ in society. But probably the majority have substantial wealth and wealth not only shields people from many of the uncertainties of life, but makes the uncertainties harder for them to understand because they are so far removed. When hard times come, draw up the bridge and wait it out. “I worked hard for what I’ve got” is not the most enlightened reason for drawing up the bridge. But that’s the way it goes.
And no, that doesn’t apply to everyone. I’m sure it didn’t start or stop with Andrew Carnegie, but he’s an example of how some of the wealthy view their wealth. He gave 90% of his away before his death and made his country a better place than when he arrived. He was fond of saying that a rich man’s kids only need a very modest inheritance in order not to spoil them (but keep them from penury should something bad befall them) and you can’t take the rest with you. Better you should be intimately involved in dispersing it according to your values, during your lifetime, than greedy hands after you’ve gone.
Are we at a pivot point? Yeah, I’d say so. Peak oil, destruction of the planet’s environment, over population, wars over dwindling resources....the list goes on. It seems to be coming to a head sooner rather than later.
I’m usually optimistic, but lately, not so much. This is not the world I wanted my son to grow old in.
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There’s a Q&A with Bill & Melinda Gates in the current issue of Time in which they say “we don’t want our kids to get it all,” (paraphrasing).
I’m available for adoption! 
He gets a lot of abuse for his massive wealth, but it seems to me he has his head screwed on pretty securely. He and Mrs. have done a lot of good with their money and they are still pretty young.
Gates has been pretty consistent over many years in saying that he wants to give away 90% of his money. Which means that his two kids will have to struggle through life with only about $2-3 billion apiece.
Note also that Bill’s father is a very, very strong advocate for retaining the estate tax, at both federal and state levels.
PS. I LOVE my anti-spammer codeword for this message ... “novakula”!
Re Gates’ kids—with that kind of inheritance he may create trust funds with a lot of conditions and controls built in. I surely would.
Speaking of Novakula...he’s kind of fallen off the face of the earth since his big exit off...which program was it? Kind of a sad way to end one’s career. Not that he deserves any less (more?).
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I actually know people who have very literally given away all that they owned and gone to live and work with the poor. But as admirable as this is, it isn’t the only answer. I know there is a tradition among some subset of the wealthy to improve the fate of the unfortunate. Their skill, in fact, might lie in steering the large forces of our society rather than in one-on-one care. I don’t think they should be faulted for keeping their hands clean if what they produce is a more just society.
The problem is, they are only a subset of the ruling class. What I don’t understand is when those in power enact laws or choose to enforce laws that deliberately keep down the poor and unfortunate. Some of it is pure meanness with no economic or social value.
Yes, history is going to have a lot to say about our age. I wonder if we are at a pivot point.