OP could have been a bit more subtle with his statement. Obviously some people have an easier time than others accumulating capital. If you're working at a minimum wage job (or 2) you may not have any "extra" capital to accumulate. In those cases, it's not really a preference. On the other hand, many people DO have some amount left over after their basic living expenses. People have options with this. They have "preferences". They could spend it on a "luxurious" lifestyle, expensive bars, updated wardrobes, expensive cars, houses larger than they need. Etc. Many "rich" people (even middle class people) have a preference for living below their means, and allowing the capital to accumulate.
My father was a post office worker, the government took care of him for sure, but he never made more than $20/hr. Today his retirement account has over a million dollars in it. Growing up we never owned a car, we rarely eat out, and we lived in a very cheap house, in a very cheap neighborhood.
I resented him for it many times, not having a car is very difficult in the suburbs of the Midwest. Our cheap house was in a shitty school district.
But it was his "preference". He could have saved less, and spent the money on a better house in a better school district. He chose to accumulate capital instead.
Or he could have been born into money, used the family's capital wisely to accumulate more capital while living in the best school district and leaving a lot more than that for retirement.
Nothing wrong with that, but not everyone had the "preference" or "foresight" to choose their parents so carefully.
What OP missed is not subtlety but a basic grasp of how the deck is stacked for most human beings living today.
My father was a post office worker, the government took care of him for sure, but he never made more than $20/hr. Today his retirement account has over a million dollars in it. Growing up we never owned a car, we rarely eat out, and we lived in a very cheap house, in a very cheap neighborhood.
I resented him for it many times, not having a car is very difficult in the suburbs of the Midwest. Our cheap house was in a shitty school district.
But it was his "preference". He could have saved less, and spent the money on a better house in a better school district. He chose to accumulate capital instead.