There is one major problem with that scenario, from their pov. The kind of minds that are elite -- politicians, reporters, hedge funders, billionaires-- and the kind of workers they would keep around --- will NOT INVENT anything much new.
The kind of technology they are enjoying was not the product of two-class societies and Marxist approaches.
They will stagnate pretty fast. Nor will "willing it" create the innovation. The kind of outside-the-box minds that innovate are not created by conformist groupthink conditions.
It has been said one of the reasons China didn't pull ahead of the West was because their govt and class strata were too stable, to static. Not free from war -- but free from the kind of conditions that breed invention and curiosity outside. How true that is is hard to say, but there is no doubt about the kind of systems that breed innovation and the kind that do not.