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Veblen called it the price-system. Mills called it the…

“Veblen called it the price-system. Mills called it the Power Elite. It's probably no more than ninety-nine people who don't know what they are doing. They're involved in high finance. Fascinating form of gambling.” quote by John Cage
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““Veblen called it the price-system. Mills called it the Power Elite. It's probably no more than ninety-nine people who don't know what they are doing. They're involved in high finance. Fascinating form of gambling.””

John Cage

About This Quote

This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.

The quote critiques elite financial power as a small, uninformed group treating markets like gambling.

In simple terms: It says a tiny group runs finance like a gamble.

Key Takeaway

Beware of concentrated financial influence.

Themes

power elitism finance gambling ignorance

Mood

skeptical critical

Type

analytical observational

When to use this quote

  • investment decisions
  • policy making
  • public discourse
  • regulatory reform
  • media analysis

Key Concepts

elite control risk perception systemic opacity

Questions to Reflect On

  • Who truly controls financial markets?
  • How does elite perception affect public trust?
A Different Perspective

The claim may oversimplify complex economic structures.

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