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In Moscow, however, you saw enormous wealth, concentrated among the so-called oligarchs.
The wealth concentrated at the top should be twice as large, he said.
"They've just treated their fans like A.T.M.s because there's so much wealth concentrated in that area".
The South remained largely agricultural, its wealth concentrated in land and slaves.
With so many jobs lost to automation, and more wealth concentrated in fewer hands, that prospect was slipping farther away.
Louis Brandies, the 19th-century jurist, wrote: "We may have democracy, or we may have wealth concentrated in the hands of a few, but we can't have both".
Similar(26)
"What happens in this kind of economy is that wealth concentrates where power is," said Mr. Yang, the journalist.
Thomas Piketty's ground-breaking book Capital in the 21st Century looks at how wealth concentrates when the returns on capital are higher than economic growth.
His recurring subjects reflect a belief in the fair distribution of wealth, concentrating on the artistry in the minutiae of daily life, even when it is dominated by poverty.
When wealth concentrates at the very top, it can inflate unstable bubbles that threaten the economy.
"This whole hoarding episode just tells us once again that any society that lets wealth concentrate at the top is making a very foolish move economically," Pizzigati added.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com