The next few years will strip away the illusions of “growth” and reveal which dominates our society and economy: privilege or social mobility.
Among the many lessons of empires is one shared by virtually every empire:once the privileged few limit the rise of those from humble origins (i.e. social mobility), the empire is doomed to rising instability and collapse.
Just as a reminder of how wealth and income are increasingly concentrated in the top of the wealth/power pyramid:
The greater the concentration of wealth and power, the lower the social mobility; the lower the social mobility, the greater the odds that the system will collapse when faced with a crisis that it would have easily handled in more egalitarian times.