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Flawed, but continued embarrassment at my association with the mainstream CompSci field.
Elite overproduction is a concept developed by Peter Turchin that describes the condition of a society that is producing too many potential elite members relative to its ability to absorb them into the power structure. This, he hypothesizes, is a cause for social instability, as those left out of power feel aggrieved by their relatively low socioeconomic status.
Periods of political instability throughout history have been due to the purely self-interested behavior of the elite. When the economy faced an expansion in the workforce, which exerted a downward pressure on wages, the elite generally kept much of the wealth generated to themselves, resisting taxation and income redistribution.
In the modern Western world, the popularity of progressive political beliefs among university graduates, for instance, may be due to widespread underemployment rather than from exposure to progressive ideas or experiences during their studies.