One result has been a growing concentration of wealth.
Every society must have concentrations of wealth in order to build and create.
The result of this concentration of wealth can still be seen today.
"Liners don't have a high enough concentration of wealth," he decided.
The concentration of wealth has skewed political power toward the rich.
What exacerbates the problems, he said, is the nation's rising concentration of wealth.
That is nearly double the concentration of wealth in the 10 richest Western countries.
The industry is moving upscale to follow the more general concentration of wealth at the top.
New York, despite its high concentrations of wealth, is hardly the richest big city per capita.
But there still is activity in areas with high concentrations of wealth, he said.