This is not a bad thing. Wealth inequality is destructive for societies.
And you believe Germany somehow avoided it? Nice one.
Don't worry, wealthy people manage fine in Germany and multiply their capital.
It's just a glass ceiling on a middle class.
There is a level where it's probably bad (France, Russia, China prior to revolutions). But wealth equality (Russia, China, Cambodia, all of eastern Europe, Cuba, etc. AFTER revolutions) seems to be infinitely more destructive.
Yeah, these people are not looking to become super rich. They are coming from very poor backgrounds (compared to median wealth in Germany) and they want to reach upper middle class levels (wealth wise, not income wise) for those countries.
It has to be balanced against forward progress.
Uh-huh.
A small town where I've lived was very much like its neighbours, but one particular neigbour was different in two clearly visible ways: ① there were (still are) more rich people in that neighbour and ② it was much easier to get financing for starting and growing companies in that neighbour.
I agree with the feeling, but the market doesn't. Inflation in the last 8 years has been slowly strangling families. And that's without mentioning the fact that owning an apartment or home is basically impossible without inheritance or being upper-class.
So for most middle-class families, the work grind will continue for the rest of their life, until retirement (if it even exists by then), without anything to show for it (owning the place you live in). How are people even going to be able to pay for their rent between retirement (67 years old) and assisted living (+75 years old)?