Kudos for a well-reasoned primer on the human imperative to rationalize order out of chaos. Economics is an attempt to see the future by looking through the lens of the past. It seems to work until it doesn't. Paradigm shifts are usually sudden and unexpected.

For example, most contemporary discussion about economics miss the accelerating impact technology is having on the supply/demand curve for human labour. Include that as a factor and we start to explain why income and wealth inequality have increased so much over the past several decades.

As machine labour, A.I. and technology enabled globalization eliminates the need for human labour in more and more industries, the excess profit is passively migrating to the owners of capital. It's a stealthy, mostly passive process. One that doesn't respond as expected to conventional economic policy approaches to mitigation.

It's not that the wealthy have become more greedy. It's that the money flows to them more easily.