Yeah, urm, no. Okay, the "deal" part isn't that far off.
The landed gentry lost much of its status and importance during 19th and 20th centuries, or joined (if they invested wisely) the class what the left likes to call "capitalists". This was caused by what is called "industrialization". Old aristocracy managed to continue to exist in some form in some countries (the UK is great example of that) and the class divisions didn't disappear, but turned into something slightly different.
And the implied threat socialist / communist revolution was part of the deal, but it isn't that simple. Far more important was parliamentary democracy. Of the much praised Nordic countries (the ones Bernie Sanders seeks inspiration from), only in Finland the left actually tried a violent revolution. It failed, and they were mostly kicked out and kept out of politics until after WWII. Compared to Sweden, where the factory owners and unions started to negotiate decades earlier, the deals after that were always worse.
The landed gentry lost much of its status and importance during 19th and 20th centuries, or joined (if they invested wisely) the class what the left likes to call "capitalists". This was caused by what is called "industrialization". Old aristocracy managed to continue to exist in some form in some countries (the UK is great example of that) and the class divisions didn't disappear, but turned into something slightly different.
And the implied threat socialist / communist revolution was part of the deal, but it isn't that simple. Far more important was parliamentary democracy. Of the much praised Nordic countries (the ones Bernie Sanders seeks inspiration from), only in Finland the left actually tried a violent revolution. It failed, and they were mostly kicked out and kept out of politics until after WWII. Compared to Sweden, where the factory owners and unions started to negotiate decades earlier, the deals after that were always worse.