UPDATED: The State Of The Classes--"...the demise of the middle class, crushed by the "elite" rentier class..."

meaning in history: UPDATED: The State Of The Classes: 

"...So, with that in mind, consider Smith's presentation of the demise of the middle class, crushed by the "elite" rentier class...Read all.

No, this is not a typo. 

As this RAND report documents, $50 trillion has been siphoned from labor (the lower 90% of the workforce) to the Financial Aristocracy and their technocrat lackeys (the top 10%) who own the vast majority of the capital : Trends in Income From 1975 to 2018.