If one needs that much words to explain something, instead of just simply proving it with maths and charts, then he/she is just a talking head, nothing more. IMO.
I read his book. I agree with most of what he's saying except for two issues; income inequality and China. I don't feel like he's looking at income inequality in a way that's meaningful to the broader economy. There are lots of metrics here, but to be very brief... our poor people are fat and armed with the latest technology (cell phones, TVs, appliances) and enjoy the comforts of developed world living (fridges, AC, clean water, adequate supplies). So if Elon Musk is a squillionaire, that doesn't necessarily mean anything needs to be systemically fixed IMO. I also don't believe China will be the dominant world power we once thought. They have put themselves in an economic straitjacket over Covid. Their elder care is awful and their poor do not have the stuff listed above. Japan was in a similar position 35 years ago when we thought they would take over.
This is for @Overnight who knows best how such an abominable song could rise up the charts. I won't hold my breath for Turning Chinese.
Another media artifact of the time. The fictional Nakatomi building from a blockbuster movie. Note, the Japs were benevolent masters. Europeans were the enemy. A time when everyone in America watched the same handful of movies. All reflected the mores of the era. Japs had incredible penetration in the American Urban psyche. And, we celebrated them. We thought they could make us better people. Unless of course, you worked in a car factory in the rust belt. Most of you kids can't really imagine how close that cultural/commercial integration with Japan was. You live in a fragmented world full of revisionist histories and Communist propaganda.
So let's talk stats. Below shows the range of sector compositions of the SP500. I couldn't find the 1980s. But, I bet we were around the 20%'s. We can say US is a very financialized economy. But in spite of this, the Japanese banks were making inroads to high finance. After Salomon bros, people weren't gunning for GS. They wanted to go to Nomura. I bet we have alumni here on ET. Wall Street has habit of using smart people and spitting them out with no chance of returning to the big leagues. Cheaper to get an Ivy League MBA who will work for peanuts (relatively). Chinese banking is a joke. They are just a factory. The Japanese had a hand in every facet of deal making. And, did I mention we wanted to be like them?