Somewhat, yes. The government has its part to play as well. The drug war was designed to decimate the black family. The welfare system was predicted to do so as well, and did.
Envy? Is that really what you read? Incredible. I made 7 figures already this year and 100% of my expenses are covered by income produced by public and private investment.
To summarize: when people read "Dalio says capitalism is not working for 60% of the population", people have a first order reaction which is "well I worked hard and it worked for me." He is not saying that you didn't and that it is not valuable, nor is he advocating for handouts. What he is saying is that if the current growth in inequality continues, there will be hell to pay. It is in everyone's interest to aim for good outcomes for everyone. I think it starts with the family. He says something similar.
He may not be totally wrong, but unfortunately anything besides capitalism will end in an authoritarian shit-show where millions are slaughtered or imprisoned for free political thought. It happens every time. Leftism only works when you centralize power. Centralized power ALWAYS results in death and dysfunction for all but a small handful at the top.
Free Market Capitalism is not equal to Crony Capitalism. Our market is more controlled by the Federal Reserve, a private bank monopoly - than it is free. They devalue our money with their money creation. It is an invisible tax. P.S. I believe things were more fractious in the USA during the 1960s with LBJ's "Great Society" and the Vietnam War. The 1968 Democratic Convention had a massive riot in Democrat controlled Chicago.
Right. This is where we are Crony capitalism. Too much government power, people like Dalio want more government power.
Capitalism never worked for most people because this is the way it works. If you want a system that works for most try communism. We are tired of all these people who made billions due to capitalism and now say it doesn't work to please the growing left.