The question then becomes “is our economic system fair?”. Are the 1%’s in the position to outbid the poor because of any merit, or even just luck- or is it because they hold the reins of the system and make sure they reap the rewards? Are they rich, and therefore privileged, because the system they control is designed to concentrate wealth and direct it where the rich want it to go?
That’s the question that’s faced society ever since the latter half of the 19th century, and we still have no good answer. To be sure, portraying the rich as mustache-twirling plutocratic villains is cartoonish, and attempts to make life “fair” are usually doomed to failure. But pure laissez-faire produces its own absurdities. The least-lousy muddled middle that we’ve been able to devise is a free market, with welfare.