It sounds like a return to the way things have been for a long time. Our post-WWII abundance has been a bit of an aberration compared to most of our history.
I'm not saying it's good, I think it's very concerning and potentially very destabilizing. But it is the way things are right now. It's also possible to be on the wealth-producing side and not see your savings disappear into the ether while still providing things of value to people that appreciate it. "rent-seeking" is a real thing, and much of finance doesn't actually provide any real value to society, but this isn't a simple black and white dichotomy across the have's and have-nots.
We ought to find ways out of this mess, ideally something that doesn't involve communism and the typical humanitarian nightmares that usually come along with it.
I'm not saying it's good, I think it's very concerning and potentially very destabilizing. But it is the way things are right now. It's also possible to be on the wealth-producing side and not see your savings disappear into the ether while still providing things of value to people that appreciate it. "rent-seeking" is a real thing, and much of finance doesn't actually provide any real value to society, but this isn't a simple black and white dichotomy across the have's and have-nots.
We ought to find ways out of this mess, ideally something that doesn't involve communism and the typical humanitarian nightmares that usually come along with it.