Piketty analyses the rise of multiple-elite systems in "Brahmin Left vs
Merchant Right: Rising Inequality & the Changing Structure of Political
Conflict (Evidence from France, Britain and the US, 1948-2017)" - full
paper at http://piketty.pse.ens.fr/files/Piketty2018.pdf
and concludes with:
"It would be naìˆve however to imagine that universal suffrage in itself
has permanently brought a different type of equilibrium. Unequal access
to political finance, medias and influence can contribute to keep
electoral politics under the control of elites. The class-based party
system that emerged in the mid-20th century was due to specific
historical circumstances, and proved to be fragile as social and
economic structures evolved. Without a strong and convincing
egalitarian- internationalist platform, it is inherently difficult to
unite low-education, low-income voters from all origins within the same
party."
It's a long paper, rather boring as it sticks to the observable reality
and refuses to offer the easy way out, but shorter than "Capital in the
21st century".
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