That would make more sense. Yes, that is definitely a problem.
I think he is ignoring / discounting leverage as a component to wealth creation though.
Even in a world where it is impossible to make wealth without providing value, inequality will still grow in proportion to available leverage. And technology (leverage) grows at an exponential rate.
If we are concerned with inequality, then part of the equation is how do you make that leverage available to those without large pools of wealth or privilege.
I think he is ignoring / discounting leverage as a component to wealth creation though.
Even in a world where it is impossible to make wealth without providing value, inequality will still grow in proportion to available leverage. And technology (leverage) grows at an exponential rate.
If we are concerned with inequality, then part of the equation is how do you make that leverage available to those without large pools of wealth or privilege.