Death provides a natural mechanism to reset wealth and power. Without it, power will accumulate to those who already have it, forever.
Have you heard of inheritance?
This has drastic effects on how large multi-generational fortunes are able to grow.
So yeah, death does have an effect on income inequality, as long as the fortunes are split up upon death.
A powerful businessman living forever isn't the same thing as inheriting his son. Children rarely follow in the footsteps of their fathers. What if Warren buffet lived forever, for example? He's very good at saving money and investing. He'll eventually just have a large portion of the wealth that exists
> A staggering 70 percent of wealthy families lose their wealth by the next generation, with 90 percent losing it the generation after that.
https://www.nasdaq.com/articles/generational-wealth%3A-why-d...