There are too many super rich people now, and that spells trouble

Intro:

For there are two big economic trends. The first is the stagnation in living standards for the majority, which have barely improved for a generation. The second is the rising tide of super-rich — the number of millionaires (in real terms) has increased faster than at any time for a century, while the number worth £10 million or more has increased faster still.

Much has been said about the former, but the Russian-American scholar Peter Turchin, perhaps the most closely studied historian of the moment, argues that we should keep our eye on the latter, too….