I would argue the opposite, that the limiting factor of progress actually IS capital at the moment - but not capital in a total-floating-around-sense, but rather how much capital the average person has access to.
Literally everyone is talking about the pandemic-induced economic crisis all the time now, about how businesses are going under, minimum wage workers are walking off and looking for better pay, people are losing their homes because they can't make rent/mortgage. The $15/hr argument is still ongoing, the student debt crisis is mentioned often, and most of all the housing affordability crisis, specifically the growing awareness in the media and homeowning public that minimum wage is not enough to pay for a median 1-bedroom rental in almost 100% of counties in the USA.
All of these stories of the current moment have a common theme: the people in question don't have enough capital.
So maybe the author of this article was living in a bubble back in 2018 - many of the things I mentioned were just as true 3 years ago as they are today, but since the mainstream of boomer homeowning voters was doing ok we never heard about the millions of Americans who were working two 8/hr jobs and barely making it. Hopefully the present reality has relieved the author of their delusions.
Literally everyone is talking about the pandemic-induced economic crisis all the time now, about how businesses are going under, minimum wage workers are walking off and looking for better pay, people are losing their homes because they can't make rent/mortgage. The $15/hr argument is still ongoing, the student debt crisis is mentioned often, and most of all the housing affordability crisis, specifically the growing awareness in the media and homeowning public that minimum wage is not enough to pay for a median 1-bedroom rental in almost 100% of counties in the USA.
All of these stories of the current moment have a common theme: the people in question don't have enough capital.
So maybe the author of this article was living in a bubble back in 2018 - many of the things I mentioned were just as true 3 years ago as they are today, but since the mainstream of boomer homeowning voters was doing ok we never heard about the millions of Americans who were working two 8/hr jobs and barely making it. Hopefully the present reality has relieved the author of their delusions.