Well said. I also have a theory that as inequality increases, the economy starts to become increasingly 'luxury-oriented' - So everyone ends up working to cater the whims of the wealthy but no one is working for the greater good.

It's already kind of happening with startups; to a significant extent, startups are essentially luxury goods for the super-rich. They've become a collectible/status symbol. Like a yacht or a private jet. Wealthy investors love to brag about all their big exits.