freedom, I agree that we way over-regulate now. I was just responding to you saying “no regulation”. We are not in disagreement on the real issue here.
roadracer, I agree that the gap has grown too large. Conspicuous consumption like that will breed resentment. That the purchase was done anonymously speaks to an arrogance of sorts which also contributes to the us-them. Back in the Robber Baron days there was conspicuous consumption on steroids if you think of places like Newport, Rhode Island and the “cottages” as they called their mansions in those days, but at the same time they were funding libraries, schools, parks and so forth. Infrastructure that was visible and often usable by many people. The elite do donate vast sums still but the manner in which they do isn’t quite as visible by average people or tangible in a real sense like libraries and schools were. The rich are more detached from the real world now than their counterparts were a century ago.
I don’t think the destabilization of a growing gap will mean much for us here. My guess is that it is the super rich that will come to fear the general population. You can see it already with their armed bodyguards, armored vehicles and other security apparatus. Maybe this is why people like Bloomberg & Soros spend so much money trying to disarm the general population when they themselves are protected 24/7 by their personal private armies so to speak. Even at a much lower level in the moneyed hierarchy, the proliferation of gated communities and home security systems speaks to those “with” trying to keep themselves separate from those “without”.