Pretty good thread this, lots of interesting issues.
I’d recommend watching some of Gary Stephenson’s videos on how inequality is growing and subsidies to the wealthy.
I think my main thought is that lots of Western countries, certainly the UK and USA, are becoming more and more feudal – the way to have a high income is to own and rent seek rather than work.
This means being born rich will become more and more the means to becoming rich, whereas during the capitalist era it was only one of many ways.
Prior to capitalism amassing wealth was all about gaining, through fair means, or foul, lots of land and stuff. You can see it today with property, patents, copyrights, even domain names.
Who owns my music, Spotify. Who owns my movies, Amazon, Netflix, Disney. Who owns my flat, Natwest (for the next 30 years).
Vulture capitalism, Neo-feudalism, the Predator state, call it what you will.
Think about the covid bailouts.The government generated money, via the BoE, borrowed it, gave it to businesses, and now I have to pay off this national debt.. . It’s a transfer of wealth from earners to owners.