> That concentrated wealth has now been spread to other people around the world, and means that we don't get to live like kings, while the rest of the world lives in squalor.
This is untrue because the rest of the world also produced wealth that the West has a share of - due to being early investors. The West became wealthier when the rest of the world became wealthier.
But, WHO in the West became wealthier? This is the main question. The wealth clearly did not trickle down to the middle class or poors.
From the numbers, is it evident that shareholders became wealthier - especially large shareholders in the West - even when productivity and profits increased, the earnings of workers did not increase proportionately.
To me it seems futile to try to keep coming up with theories when the solution is as simple as higher taxes on the rich and zero taxes for the poor.
I wholeheartedly agree. Unfortunately, poor people can't afford to buy politicians.