Earlier quoted context omitted.
Do you? Do you really think you can magically turn raw materials + work needed to build a super yacht into something of global consequence ? Or a Pollock painting will magically turn into a 1000 homes? Or that 1% consumes significantly more food? Most ultra-rich sh*t is immaterial to struggles of regular people. Even if 1%ers consumes extra 300 square meters of real eastate if you divide it across the 99% you will ge…
You're right when you say that the discretionary spending of the ultra-rich doesn't matter, but there are consequences to increasing or decreasing the percentage of capital they control. If you e.g. diluted the S&P 500 by 20% and spread the new shares equally across the global population, it would definitely cause "something of global consequence" to happen, although I have no idea whether it would be world war 3 or…
I suspect it would look more like the current economic craziness. The vast majority of the newly-wealthy would spend all of their new-found money on stupid shit and within 2 years a new upper-class will have formed.
Maybe the members of the hierarchy gets shuffled around a bit, but the system itself will find a way back.