The U.S. once had an unofficial but nonetheless genuine ruling class, drawn from what came to be known as the WASP establishment. Members of this establishment dominated politics, economics and education, but they do so no longer. The WASPocracy, as I think of it, lost its confidence and, with it, the power and interest to lead. We are now without a ruling class, unless one includes the entity that has come to be known as the meritocracy—presumably an aristocracy of sheer intelligence, men and women trained in the nation's most prestigious schools.
The acronym WASP derives, of course, from White Anglo-Saxon Protestant, but as acronyms go, this one is more deficient than most. Lots of people, including powerful figures and some presidents, have been white, Anglo-Saxon and Protestant but were far from being WASPs. Neither Jimmy Carter nor Bill Clinton qualified.
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WASP life, though, was chiefly found on the eastern seaboard. WASPs had their own social clubs and did business with a small number of select investment and legal firms, such as Brown Brothers Harriman and Sullivan & Cromwell. Many lived on inherited money, soundly invested.
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The late 1960s put the first serious dent into the WASPs as untitled aristocrats and national leaders. For protesters of that generation, the word WASP didn't come into play so much as the word Establishment, heretofore chiefly an ecclesiastical term. The Establishment was the protesters' enemy and target. The Establishment was thought to have sent the country into Vietnam; it was perfectly content with the status quo, with all its restrictions on freedom and tolerance for unjust social arrangements; it stood for all that was uptight and generally repressive in American culture.
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