Fascinating paper by Thomas Piketty. He constructs a long-run data series from post-election to document a striking long-run evolution in the multi-dimensional structure of political cleavages in the US, UK and France.
The nub of it is this:
In the 1950s-1960s, the vote for “left-wing” (socialist-labour-democratic) parties was associated with lower education and lower income voters. This corresponds to what one might label a “class-based” party system: lower class voters from the different dimensions (lower education voters, lower income voters, etc.) tend to vote for the same party or coalition, while upper and middle class voters from the different dimensions tend to vote for the other party or coalition.
Since the 1970s-1980s, “left-wing” vote has gradually become associated with higher education voters, giving rise to what I propose to label a “multiple-elite” party system in the 2000s-2010s: high- education elites now vote for the “left”, while high-income/high-wealth elites still vote for the “right” (though less and less so) — i.e. the “left” has become the party of the intellectual elite (Brahmin left), while the “right” can be viewed as the party of the business elite (Merchant right).
I show that the same transformation happened in France, the US and Britain, despite the many differences in party systems and political histories between these three countries.
This links to the observations of Daniel Rodgers summarised below.