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This doesn't seem to be true, biggest companies today weren't biggest companies 50 years ago. Even in IT, IBM is not giant that it was and was succeeded by newe
by saberdancer 6y ago
This doesn't seem to be true, biggest companies today weren't biggest companies 50 years ago. Even in IT, IBM is not giant that it was and was succeeded by newer companies.
- drew-y 6y agoI don't think the comment is referring to individual companies but the market as a whole. It's clear that wealth is and has always tended to accumulate to the richest when not checked. This article does a great job laying out some examples. https://www.brookings.edu/blog/up-front/2019/06/25/six-facts-about-wealth-in-the-united-states/ https://www.brookings.edu/blog/up-front/2019/06/25/six-facts... > In fact, the top one percent alone holds more wealth than the middle class. They owned 29 percent—or over $25 trillion—of household wealth in 2016, while the middle class owned just $18 trillion.[iii] > This has not always been the case. Before 2010, the middle class owned more wealth than the top one percent. Since 1995, the share of wealth held by the middle class has steadily declined, while the top one percent’s share has steadily increased.[iv]