There was an intellectual difference, also. French intellectual life was far more oriented to theoretical rather than practical knowledge.... In its economic attitudes, the U.S. elite is also 18th Century French. It sees essentially no limit to its ability to make economically damaging regulations if some pet cause is at stake. It takes a far greater interest in the theoretical possibility of global warming a century hence and in theoretical dangers to the environment from coal extraction than in the practical problems of generating electricity from wind power on a calm day or from solar power on a cloudy day.Whether in education, government, media, or, increasingly, business, it doesn't matter what the client/student/customer/consumer wants or needs or can afford. What matters is how those in charge appear to their peer group.
The author makes the comparison to 18th century France, and it's apt. However, speaking not as an economist, I also see a parallel with the priestly class of 1st century A.D./C.E. Palestine. In either case, the end can be abrupt and unpredictable.