
Piketty's Inequality Theory Gets Dinged - adventured
https://www.bloomberg.com/view/articles/2017-10-23/piketty-s-inequality-theory-gets-dinged
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cujic9
The 19th century is especially interesting because it's one of the few points
in history where it benefited the rich to grant purchasing power to the non-
rich.

In other words, the industrial revolution can't happen unless there is a broad
base of consumers driving demand.

So to the prediction that "the rich get richer until a big war or revolution
resets things", you might be able to add, "or the rich decide that they can
secure future riches by sharing present-day riches".

In effect, they are investing in the growth of a strong consumer class to
cement the demand for the widgets their factories produce.

