Earlier quoted context omitted.
The idea is that as money gets so concentrated, so does real political power. And with that concentration of political power comes extreme disregard for the opinions of the masses. I think it's a fair argument that the world has always catered to the will of rich people, but the difference now is that rich people are so unfathomably rich, and so much wealth is concentrated in so few.
> but the difference now is that rich people are so unfathomably rich... Compared to when? How many times in history has wealth been less concentrated? As far as I'm aware, for almost all of history post-agriculture, wealth was highly concentrated while the average person lived in abject poverty (think: kings vs peasants). The mid-20th century was an era of mass prosperity in the US and parts of Europe, but it was an…
Mostly all of them! There have been periods where inequality dropped, but mostly it's been rising since at least the 1300s. I'm on mobile and can't link research, but there are a few papers that investigate this.
> As far as I'm aware, for almost all of history post-agriculture, wealth was highly concentrated while the average person lived in abject poverty (think: kings vs peasants).
And yet it was less unequal than now, an era where we've managed to use technology to concentrate wealth at an unprecedented scale. No longer is the richest person you know the king who collects your taxes next door, now it's a SV trillionaire on the other side of the world.