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2 results

  • The New Rich in Their “Palaces”: An Aspect of Urban Transformation in the Former Socialist Countries

  • François Ruegg
  • Journal:
    Diogenes / Volume 63 / Issue 3-4 / August 2016
    Published online by Cambridge University Press:
    01 January 2024, pp. 80-90
    • Article
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  • The paper addresses the scarcity of research on the new rich in urban anthropology. It argues that sumptuary spending is meant to establish and display an honourable ascendancy, and stems from a need for public recognition. This is particularly visible in the palaces of the nouveau riche in Eastern Europe. Too often, these buildings are unduly ethnicized; the paper claims that this ideological approach aims at denying Easter European Roma the possibility of taking part in the urban competition of the new rich and at excluding them from the wider urban context of the new rich in the post-Socialist territories, from Bucharest to Batumi and Astana. From Roma businessmen to a parvenu doctor in Cluj, the identity strategies of the new rich resemble each other. They draw on universal artistic heritage to create an image of ancient virtue for their owners.

  • 21 - The World in the Twenty-First Century

  • from Part III - The Period after the 1970s
  • Vito Tanzi, International Institute of Public Finance (IIPF), Germany
  • Book:
    Monitoring the State or the Market
    Published online:
    07 December 2023
    Print publication:
    21 December 2023, pp 159-172

  • Summary

    In recent decades enterprises that used new digital technology to sell information increased in importance. Some of these enterprises became among the most profitable enterprises in the world. Possession of information replaced to a large extent the possession of tangible commodities and capital to determine the market value of an enterprise. A new elite group of rich individuals was created. To a large extent that elite group acquired much influence, on both the economy and the politics of countries, because they could influence politicians and citizens. They could influence the work of regulators. Therefore, the main goal may have changed, from the need to control the state, as in the past, to that of controlling the market operations.