He&#x27;s right about housing being the #1 issue, but it&#x27;s hardly the only problem created by America&#x27;s ruling class.<p>I bet he&#x27;s entirely blind to the fact that the only reason his paper is getting so much attention is that he&#x27;s an &quot;MIT graduate&quot;.<p>Attending an elite school like MIT is not even a 1%&#x27;er thing, it&#x27;s a 0.1% thing.<p>There&#x27;s probably some poor person, who went to a shitty college, that&#x27;s even smarter and has a better theory but we&#x27;ll never hear about it. Think about their career trajectories and the inequality of their outcomes.<p>Of course the 99.9% contains almost all of the smartest people, but they get almost none of the opportunity. This elitism is absolutely pervasive in American society.<p>Microsoft: &quot;Harvard dropout inks deal with IBM&quot;<p>Google: &quot;A new search engine from Stanford.&quot;<p>Facebook: &quot;The exclusive Harvard social network&quot;<p>Dropbox: &quot;Google Drive killer coming from MIT Startup&quot;.<p>This paper: &quot;MIT graduate student says income inequality is actually about housing&quot;<p>Something like 95%+ of people that get into elite schools graduate. It&#x27;s not hard to graduate, it&#x27;s just hard to get in, and the test for getting in is so gameable and rigged that almost no one pretends it isn&#x27;t anymore.<p>As long as the rich can spend fortunes buying elite credentials for their children, we&#x27;re going to have a ruling class and a worker class.