Does wealth create poverty? My 25c : Wealth does not exactly create poverty. Power might do. But Greed IS good as a driving force, The possibility to explore and exploit other parts of the world was a driving force behind the technical revolution starting off in the 17th century norhern Europe.
And still, "risk capital" tries to go after things that seem fruitful, ideas from bright people.
And I am a Socialist. In the eyes of most US people at least. But I can see that the Communism created even more poverty than the US did in Latin America during the cold war days.
Karl Popper in his critique of Marx has the clue. The National States. That will moderate the more brutal capitalism with regulation and taxes. In my home country we actually had a revolution. But a slooow one. From 1917 up to the 60´s. Where the trade unions and the social democrats gradually gained more power. In good discussions with the big capitalist families (eg. the Wallenbergs). What we ended up with, Peaking in the 80's was a mixed economy where capitalism was ok, but you had high taxes on eg. inheritance and a lot of regulations. Universities are free of charge. So intelligent kids from humble backgrounds are allowed to rise.
THe situation has become more fuzzy now, with the introduction of Globalisation, with low salary countries coming into play, making the national states and the trade unions toothless. My guess is that this is what sent President Trump to power.
What one would like to arrive at, I think, is NOT a socialism of the equal-for-everyone type. But a TRUE social liberalist world whith something of the Fair Race that Rawls talks about, where people really do what Plato is dreaming of in The Republic, where silver children of gold parents sends those kids to silver lives while gold children of silver parents gets gold lives. And that for the whole world. But as long as people talks about the IQ of Sub-Sahara people, I am sceptical.
Actually, I am a father myself risen to the gold position. And I do not give my teenage kids gold lives for free. Since I am from a Silver background. They have to fight for it. I cannot understand parents that spoil their kids, making them omnipotent while observing that their kids are really mediocre.
Wealth does not give poverty, but richness for all reqiuires institutions stronger than the rich people. As with all questions regarding humans, a compromise is normally the best solution.
But of course, one dreams of a world where everyone does what he or she is most apt to do, and everyone works together. And produces the same results as capitalism. But maybe it is impossible.