These are two contradictory trends that no one can explain how it works together, anyway these are major trends of our times.
1st is unprecedented capital concentration within hands 1% of population
2nd is sustainable reduce of poverty across the World.
While we all economists and regular citizens tend to think that equal wealth distribution is a good thing (Government takes money from the rich persons and companies and distribute the rest) the reality shows an opposite results. I wonder if equal distribution doesn’t work probably we need to try another way? In any case rich people and companies avoid paying high taxes and in our Global world this is plenty of ways how to do it. Why they do it? Is it greediness? No. Majority of them feel responsible for the happened in the World and contribute capital to solve most painful problem that neither local governments nor international organization under UN umbrella were unable to solve in decades.
Anyway, why they do not like to pay high taxes? I presume that is a reason even reach people do not like articulate it – rich and successful think that Government is ineffective wealth distributor. Indeed just look at Billions of investment in Health, Education and Defense usually this is biggest budget spending in Developed countries – what are results we have? Education that fail vs. Iran and China, Medical care that fail vs. poor Cuba and Defense that spend for development one airplane 5 times more than NASA and Elon Mask on its Space programs together.
I propose another approach – instead to get more taxes on rich, let’s give them to spend capital for the programs they think are more necessary for society. I’m sure 100% – it will work, and it will be effective and we start to see results soon – just take a look for Gates/Buffet fund actions I the 3rd World. We can get educational and health programs with clear measures of success and get it.
Who is going to suffer? The Government in each country. They get same amount of money but now government work in many segments could be compared with programs led by Companies or Wealth People. Guess which programs will give us better result and more benefits? Therefore government will resist for such competition as much as it can, but we should not support them in that game – they don’t do it for us, they do it for themselves-just to preserve power of single and supreme wealth distributor where naturally sufficient part of wealth remain in hands of who distributes.
No historic precedents? Of course Yes it is! Along 2,000 years Jews stay w/o country and with no government accordingly. Nevertheless Jew community in any country was prosperous and cause to envy for people surrounding them. How they get it? These are few reasons –but sufficient one that Jews always respect wealth people inside community and wealth people pay back by supporting poor families and community needs. It perfectly worked thousands years ago, it perfectly work now while Israeli government remain ineffective wealth distributor like any other government.
To conclude – People do not afraid reach people ad rich companies! Encourage them to spend their money effectively on society need and we all will get more money and more results in return than French President Holland get with his crazy 75% tax that no one pays.