Allow me to put forth something that hasn’t been mentioned yet: The difference between the “classes” these days is mostly one of tweaks and style, not a fundamental difference. You make profits by producing for the masses. There’s simply not as much profit to be gained in producing things exclusively for those with abnormally high incomes to spend, so the best the rich get is higher quality, and higher quantity, of mostly the same things available to the common man.
That’s very interesting. I didn’t know that. Can you recommend to me any good places to find interesting [legitimate] statistics like these, and perhaps your favorites works by Sowell?
You should look up the Work and Pay sections of Basic Economics and similar sections of Applied Economics.
Thomas Sowell is a neoconservative and an admirer of Bill Buckley and the general NR crowd, but his politics is absent in Basic Economics, and barely surfaces in Applied Economics in which he makes not a few rants about “liberals” in academia.
Just know that Sowell is an expert mainly on demographics, urbanization, housing markets, race, gender, and the workplace. Where he speaks outside his area of expertise, he may be disregarded, like money and banking.