> "But Marx's original critique of capitalism was not that it made for lousy growth rates. It was that a rising concentration of wealth couldn't be sustained politically."
I feel like this is one of the very most important things to consider in any discussion of wealth concentration. Economic growth does not necessarily correlate with a broadly pleasant experience for all participants in that economy. I think we came out of the 20th century with it being taken as axiomatic that some kind of tradeoff must be made to achieve both goals in concert somehow, but this understanding seems to be receding (really starting with the rise of austerity policy in the 80s, but coming very much to a head lately).
> "But Marx's original critique of capitalism was not that it made for lousy growth rates. It was that a rising concentration of wealth couldn't be sustained politically."
I feel like this is one of the very most important things to consider in any discussion of wealth concentration. Economic growth does not necessarily correlate with a broadly pleasant experience for all participants in that economy. I think we came out of the 20th century with it being taken as axiomatic that some kind of tradeoff must be made to achieve both goals in concert somehow, but this understanding seems to be receding (really starting with the rise of austerity policy in the 80s, but coming very much to a head lately).