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Looking to billionaires like Ray Dalio to fix inequality is like 'asking a fox to worry about hen protection,' says a prominent critic of the Davos set

Looking to billionaires like Ray Dalio to fix inequality is like 'asking a fox to worry about hen protection,' says a prominent critic of the Davos set
Amy E. Price/Getty Images



Anand Giridharadas is the author of "Winners Take All" and a prominent critic of elites in the US.




He commented on Ray Dalio's recent call to reform capitalism, criticizing the way society is so quick to embrace the words of a billionaire, even when self-critical.




Giridharadas said that for real reform to happen, Americans must stop relying on public-private partnerships where private individuals, even with good intentions, have outsized influence.




This article is part of Business Insider's ongoing series on Better Capitalism.




Visit Business Insider's homepage for more stories.



Bridgewater Associates founder Ray Dalio raised eyebrows this past weekend. As head of the world's largest hedge fund, Dalio is estimated to have a net worth of $18.4 billion, according to Forbes. And yet the billionaire declared on both "60 Minutes" and LinkedIn that current levels of inequality are "a national emergency," adding that "the American dream is lost."
Someone whose ears perk up whenever a billionaire starts talking about the state of the country is Anand Giridharadas, an editor-at-large for Time and the author of "Winners Take All." He's emerged as one of the most prominent critics of America's elite class since his book was published last August, and in January he told Business Insider that "we're all passengers in a billionaire hijacking" of the United States.
On Monday, Giridharadas said that Dalio can join the discussion of inequality, but would need to "become a traitor to his class" if he wants to see real change. Core to Giridharadas' argument for where the US should be heading is that America has become too reliant on elites (even those with the best intentions) to solve structural problems. Giridharadas sent Business Insider the following:
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