The inequality that the "wealth equalizing" institutions are intended to prevent end up becoming another cause of inequality. One only look as far as the former Soviet Union. They had "wealth equalizing" institutions as well which created a new privileged class of elites. Those elites were those who owned and operated the "wealth equalizing" institutions.

The article's assertion "extreme wealth inequality is inevitable in a globalizing world unless effective wealth-equalizing institutions are installed on a global scale" is wrong. These institutions would end up creating a new layer of inequality.

The article's premise, therefore, should have been: "wealth inequality is inevitable", full stop.