How can equal opportunity exist when so many have so much wealth? What would be done about the 1%?

Liberty Explained - The Basics of Libertarianism

How can equal opportunity exist when so many have so much wealth? What would be done about the 1%? Equal opportunity, though a sought-after ideal, remains elusive across various governance systems, including libertarianism. No society, regardless of its level of freedom or control, can claim absolute equality of opportunity in aspects beyond just education. In libertarianism, for instance, it’s unfeasible to mandate equal educational opportunities when affluent families have the means to elevate their children’s learning experiences. However, a distinction exists between open societies like the U.S. and closed ones like North Korea, where wealth and power are rigidly centralized. In more open societies, wealth is relatively fluid, with family fortunes often dispersing within a few generations, fostering opportunities across socioeconomic classes. In contrast, closed societies rigidly centralize and retain wealth within a select elite, stifling opportunity and mobility for the broader population.

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