The rich are able to influence the political process enormously more than the middle class and the poor. And we have empirical studies there from Gilles and others who have actually political science professors that found that generally the issues that matter to the rich get debated and acted upon much more frequent then those of the poor ormiddle class. The danger is that you might end up with something what they called before a self-sustaining upper class that would essentially be reproduced from generation to generation.
Economist and author Branko Milanovic of the Graduate Center, CUNY, talks about his book, Capitalism, Alone, with EconTalk host Russ Roberts. They discuss inequality, the challenge of corruption in the Chinese system, and Milanovic's claim that in American capitalism, the texture of daily life is increasingly affected by the sharing economy and other opportunities.