Old wealth also spent lavishly, just on things more beneficial to the public. Imagine the costs with constructing an ornate art deco build today, vs. another 6 story wood frame box. At least with the pricey art deco building, the luxury is enjoyed by everyone who uses the space. Not to mention old wealth often donated huge fortunes to civic endeavors.
There was good reason why the working class resentment of old wealth was minimal, it was because they weren't only hoarding it for hedonism or a lust for power.
That's exactly my point earlier. It actually costs relatively more today to get a similar sized building as that high quality art deco building of yesteryear, while the quality has simultaneously declined. Buildings like that aren't built of stone today, rather twigs by comparison.
Prices have gone up and quality down.
It's not just the wealth gap that is increasing but the value gap even more so.
Being a declassee from "really old wealth" - thank you WWI and the collapse of Austria Hungary - culture was a veneer to hide the hedonism. My great-grandmother, born in 1890, had stories about who would fund the ballet vs the opera. And it had mostly to do with foot fetishism.
There was good reason why the working class resentment of old wealth was minimal, it was because they weren't only hoarding it for hedonism or a lust for power.