In the relative sense, the precariat almost certainly loses from growth, because the gains from the sort of growth that is occurring go disproportionately if not entirely to the plutocracy, elite and salariat.

According to the dictionary, plutocracy (from the Greek ploutos, “wealth,” and kratos, “power”) is a system of government where money is the basis of power.

Similar mechanisms prevail at the un, the World Trade Organization, and the World Bank. Nationally, we aspire to live in democracies. Internationally, we inhabit a plutocracy.

Without our system of levees, rising like a glimmering bell-curved mountain of rice paddies, capitalism would probably have decayed into Marx's "attractor nightmare" in which markets decay into plutocracy.