That doesn't work for all industries though. iPhones and other mass luxury/ "masstige" goods are essentially high-end commodities. Apple can't stay rich just se

That doesn't work for all industries though. iPhones and other mass luxury/ "masstige" goods are essentially high-end commodities. Apple can't stay rich just selling to richies, they need poor sods to line up to buy millions upon millions of Apple devices. And that can't happen if aforementioned sods have no income. Same with most electronics, with most travel, with autos, with apparel, most restaurants, videogames, furnishings and appliances, etc. Income inequality can only go so far without dire economic consequences. If the non-wealthy become a mere rounding error in terms of aggregate purchasing power, then we simply won't be able to buy enough to keep these lifestyle manufacturers flush.