re: Half of the UK is owned by 1%

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more people becoming wealthy in no way hinders the opportunity of advancement for the lower classes.

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Exactly. This is the great thing about capitalism. You have A CHANCE (not a guarantee) to go out there, succeed, and be commensurately rewarded. For most of human history that has not been the case. In socialism/communism it’s DEFINITELY not the case.

All I want is a fair chance to make a go of it. I can look at a piece of land up for sale and know my numbers well enough to decide whether it will be an earner or anchor. On the other hand some of these established elite don’t. They grow out of practice, get complacent, or simply overlook something and before they know it they’ve made a terrible mistake and have been knocked down a few pegs.

That’s one thing I RARELY see mentioned in these articles. Everyone likes to talk about those who are currently on top of the mountain. The ones who’ve made it. What they neglect to mention is how much TURNOVER there can be at the upper reaches of wealth. It’s very hard to stay on top of the mountain. One bad generation of decisions can destroy everything that multiple generations prior to that built up.

In fact, the generally accepted statistic is that 70% of fortunes are lost in the second generation and 90% in the third. That’s simply unreal. These scant few families who have continued to grow are the exception, not the rule.

A common practice among the British elite during the 19th and even 20th centuries was actually to seek out American heiresses in order to supplement their dwindling fortunes during those turbulent times. The smart ones survived and were stronger for it. The others no one talks about.