>limited only by imagination //

And by availability of resources, such as energy.

From the industrial revolution we've being living in a time of effectively limitless energy and without having considered the consequences of tapping that energy. Fossil fuels, and other resources are running out - or we can at least see the end of them - and the consequences of their use are starting to bite hard. Realistically we're looking at a 2degC average global temperature rise this century, and the destruction of ecosystems due to that relatively rapid rise is going to be massive.

When the energy and resources, that we've used to support a consumption economy, grow more scarce that economy will no longer work. We won't be able to get ourselves out of low employment by just consuming more and so making more jobs.

>There will always be people that have a majority of wealth, however that's denoted

That may be true but we can narrow the spread of wealth by a very large factor; and morally we should do so.