There’s wealth disparity and then there’s the wealth chasm of today, the disparity has grown so much in the last couple of decades beyond anything in human history.
The only reason it can is because of capitalism (neoliberalism, late stage capitalism).
The system incentivises and rewards the horrific behaviour that results in the disparity.
Also, pray tell, what are inheritocrats who made all their non-inherited money through stock markets producing?
As far as I can see, they’re not producing anything, but are profiting off the backs of, and at the expense of, those that are producing the value.
There’s wealth disparity and then there’s the wealth chasm of today,
You think the chasm today is as big as the gap between Augustus Caesar and a slave in Rome, or even a Roman plebian? Augustus Caesar’s wealth is estimated at around $5 trillion in today’s money.
The only way in which capitalism is responsible for wealth gaps is that it is tied to technological developments. In the modern world technology allows 1 farmer to feed hundreds of people. One century ago (also under capitalism) it was only about 4 people. More people who aren’t farming means more labour to allocate to other things, which means more wealth can be concentrated at the top.
There’s wealth disparity and then there’s the wealth chasm of today, the disparity has grown so much in the last couple of decades beyond anything in human history.
The only reason it can is because of capitalism (neoliberalism, late stage capitalism).
The system incentivises and rewards the horrific behaviour that results in the disparity.
Also, pray tell, what are inheritocrats who made all their non-inherited money through stock markets producing?
As far as I can see, they’re not producing anything, but are profiting off the backs of, and at the expense of, those that are producing the value.
You think the chasm today is as big as the gap between Augustus Caesar and a slave in Rome, or even a Roman plebian? Augustus Caesar’s wealth is estimated at around $5 trillion in today’s money.
The only way in which capitalism is responsible for wealth gaps is that it is tied to technological developments. In the modern world technology allows 1 farmer to feed hundreds of people. One century ago (also under capitalism) it was only about 4 people. More people who aren’t farming means more labour to allocate to other things, which means more wealth can be concentrated at the top.