"But it feels really unfair. People seem to be more sensitive to relative economic status than absolute. So even if people are much better off being poor today than king 500 years ago, most people compare themselves to the richest people today, and not the richest people from the past."
I don't think this is the whole story. It's not just that it feels unfair, it's that it really is unfair. Rich people can buy political representation, and unlike wealth, representation is a zero-sum game.
I don't think this is the whole story. It's not just that it feels unfair, it's that it really is unfair. Rich people can buy political representation, and unlike wealth, representation is a zero-sum game.