I want to know why if you think that a system that thrives on wealth inequality doesn't contribute to poverty, we see median househould incomes declining while all the prices are rising and a very small class of already rich people becomes ever richer.
Instead of rewarding wealthy people for increasing the pie, we just give wealthy people free money for sitting on lands and having that appreciate, rather than selling it to someone who can use it.
"Robust housing market" and rising price is not a good thing. It is a socioeconomic disaster.
Another way we becomes poorer: Pattern of development that incentivize ownership of expensive items just to participate in society, like cars and roads.
I was explaining why that statement is actually often correct. When I buy a phone, wealth inequality gets worse but yet it is still a positive sum trade.
The system doesn't thrive on wealth inequality. Wealth inequality is a mere byproduct of forces like the tremendous scale afforded by capital markets and technology, the unequal distribution of the extreme end of intelligence, the increasing relevance of intelligence in the context of modern technology, the rise of China as a competitor for our lower classes, and so on.