Yeah good luck growing businesses and innovation with regulations on how much money you have. A buisness owner with an innovative idea is bound get a ton of money because people will pay for it.
Entire world mainly runs on capitalism. Even communist, socialist countries accept capitalism for their markets because that's the only way out. Money is a huge motivating factor. Be it innovation or something entirely opposite.
Glass-Steagle protected us from big money buying up all of our housing. That's just one tiny example of many. Dodd-Frank has been neutered because it was inconvenient for wealthy people trying to steal all the money on the planet. It goes on and on.
I'm not from USA. But from what I know Glass-Steagle legislation separated commercial and investment banking. There's nothing in there that stops big money from buying huge real estates. Just that banks cannot use regular customer deposits to be used in high risk investments. That's a side effect not a direct prevention. I am not familiar with case of Dodd-Frank though.
Still I can assert no such regulation can be put in place to prevent pooling. Blatant stealing of wealth from common people is a different case. Almost every constitution prevents it in different facets. But you cannot really put a ceiling on how much a person can earn. If a company grows too big, there's always something innovation, something they do that people like and want. And so does their owners and stakeholders. You put a ceiling and suddenly no idea is lucrative enough to chase at the scale of multimillions and billions. Plus goverments are funded by giant companies one way or the other.
And people choose those in power, atleast in major functional democracies. So it boils down to us too. And changing people, well that's not an economic concern.
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u/zoobie_noobie 7h ago
Actually it is researched quite a lot. Experiments involved monkies and some social ones too. Money ended up pooling.