Communism/ socialism has definitely gained popularity among the younger crowd. Doesn't take a math genius to look at where all the new productivity gains are going to, heres a hint: its not going to hourly workers on the bottom the totem pole. Wealth disparity is similar to what it was in the gilded age.
Wealth disparity is not the worst thing...historical forces that typically remove the disparity are much more disagreeable.
I am reading a book that systematically looked at what reduces inequality..and turns out only major wars and deadly pandemics (plaque in medieval Europe) were able to temporarily reduce inequality.
All societies "naturally'" trend toward increasing inequality in relatively peaceful conditions (over centuries).
It's called pareto distribution.
https://www.youtube.com/watch?v=TcEWRykSgwEhttps://www.youtube.com/watch?v=U4GMUamUjT8Thanks, but we were mostly talking about dynamic changes in inequality.
You cannot explain change by referencing Pareto.
That principle does not explain why in some epoch Gini is 0.35 while in other 0.85
The book at least shows correlation with historical events and even then it is not a proof of the causation, however, it is at least a starting point.
Sidenote...who put a cap on bitcoin? Bizarro.