Capitalism works, but it doesn’t stop working, it keeps on working and will continue to work, funneling money to the top, until there is no more money left to pay back into the system.
At the moment the workers must work for money, to keep the system going. Soon, because of automation, there will be hardly any jobs, so people will have no money to pump into the system. At this point the system will crash.
Billionaires need to get their heads around this and regularly release capital back into the system, via higher taxation. Norway has a high rate band of 76%. What do billionaires ‘need’ that millionaires can’t afford?
We should tax billionaires back to being mere millionaires, put this ‘hoarded’ money into a monthly ‘Unconditional Basic Income’ for everyone on the planet and people will spend the money back into the economy. Reducing hoarding and increasing circulation, by pumping regular cash into the system, will ensure continuing profit for the 1%… the excess of this profit will feed back into the system through the tax into UBI… and so on…until we grow enough mentally to be able to accept the notion of a moneyless society, where automation satisfies the 100%’s need, rather than the 1%’s greed.
Meanwhile, we must tax the billionaires. You can’t reap a crop of cash profit, if you don’t plant cash seeds.