> But it does not work any more. The "growth" of the last two decades did go 99% into the pockets of the millionaires and billionaires.

According to the world bank, the number of people in poverty worldwide declined from about 1.9 billion in 1990 to about 1.2 billion in 2010. That is despite an increase in surveyed population of about 1.4 billion over the same period. ( http://iresearch.worldbank.org/PovcalNet/index.htm?1,0 )

Now, it is possible that economic growth over that period was so enormous that only 1% of it (or less, considering that there are more people in the world besides the very destitute, millionaires, and billionaires) was sufficient for that amazing reduction in poverty.

But it seems unlikely, so I would appreciate a source for the assertion "The 'growth' of the last two decades did go 99% into the pockets of the millionaires and billionaires."