Why don't we know this? Why isn't this news? Because it IS news. And it's good news. And it's actually happening, and has been accelerating rapidly for twenty years.https://twitter.com/humanprogress/status/975761334548750337 …
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To illustrate this in extremis - surely you would see a problem if there were, say, 20 mega trillionaires in the country while the rest of America battled for scraps a la mad max? This is not desirable for anyone, including the richest and most productive.
That wouldn't result in huge increases in medium wealth or well-being.
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Precisely. Point is that we can still extol the value of a meritocratic system while being concerned about the size of the middle class and wage growth of the working class. That shouldn’t create any intellectual dissonance for defenders of capitalism.
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