https://en.wikipedia.org/wiki/Pierce-Arrow_Motor_Car_Company
The more customers I have, the less risk there is if I lose a customer. The less I have to bow to my customers whims.
If one of the 10 people ask me to hire their cousin, I might have to do that. If one of the 1,000 people ask me to do so, probably not.
Cheap transport, cheap postage, cheap delivery of foods...
> A relatively small number of wealthy people who matter to the economy, and a huge number scraping by day to day whose economic activity amounts to a rounding error in the grand scheme of things.
A billionaire doesn't spend more money than a million people on...anything probably.
Elon Musk might have more wealth than 1,000,000 US households, but he doesnt eat 3 million meals a day, drive a million cars, or sleep in a million houses.
I would be very interested in seeing the breakdown of consumption instead of wealth, as competition for goods and services produced is where disparity has tangible impact.
However, the productivity of workers in relation to capital is a valid concern for their ability claim the goods produced.
Other wealthy people. I knew someone in the yacht-building business who would say "If you want a business that will last, sell to rich people--they're the ones who have money." We are very quickly moving towards a world where the economic activity (earning + spending + producing) of the median person is insignificant next to the activity of the very rich. There are individuals who have more wealth than the GDP of entire countries.
We're bifurcating into a society like the movie Elysium: A relatively small number of wealthy people who matter to the economy, and a huge number scraping by day to day whose economic activity amounts to a rounding error in the grand scheme of things.