After the rise of Thatcherism, the smashing of the trade unions, and the post-cold war sense that any alternative to free-market capitalism was permanently discredited, you can see why the wealthy felt drunk on the sense of eternal victory.

In the 1920s prohibition in the US notoriously failed to tackle alcohol use, led to lethal forms of liquor entering the black market, fuelled organised crime and its associated violence, and wasted public money.

For the well-heeled elites, the 90s and 00s were a non-stop party with no hangover: even after the financial crash, the fortunes of Britain's 1,000 richest families more than doubled.

Owen Jones Quotes