just a bit of an expansion on what karlboll said,
the more money that is consolidated into the hands of the few the less goods are being bought and the less reason for new things to be started or for old things to be innovated.
A basic rule in economics goes something like "as purchasing power decreases the demand for inferior goods increases"
an example of this being that if Josh Mc'hadmoneyboi suddenly got a pay cut, decreasing his individual purchasing power, it would be less likely for him to buy a normal good (like bread) and more likely he would buy an inferior good (like ramen)
the more money that is consolidated into the hands of the few the less goods are being bought and the less reason for new things to be started or for old things to be innovated.
A basic rule in economics goes something like "as purchasing power decreases the demand for inferior goods increases"
an example of this being that if Josh Mc'hadmoneyboi suddenly got a pay cut, decreasing his individual purchasing power, it would be less likely for him to buy a normal good (like bread) and more likely he would buy an inferior good (like ramen)