Technology will create more inequality. That's point number 1 from Spengler.Inequality is spreading into the furthest corners of the world economy. In remote villages where everyone farmed the same kind of subsistence plot or sat in the same kind of market stall, mobile broadband allows the cleverest person in the village to access the global market through platforms like Alibaba. The grim equality of rural life will disappear; the talented few will gain access to markets and capital and get rich by hiring their neighbors.
The Chinese never expect people to be equal. That's point no. 2 from Spengler.Except for a few aberrant episodes like the Cultural Revolution, the Chinese never had an expectation of equality: They always assumed that the top scorer on the exam would go on to power and money.
The point I want to make is this. Cultures that cannot accept inequality will adopt Socialism. In the west, it was the Protestant cultures that best-accepted capitalism. That was because they believed that success in your chosen vocation was a sign of God's blessings. Envy was a sin to be avoided. Thus, in their formative years of the late 19th and early 20th century, they did better than the Catholic countries of Southern Europe and South America.
With the decline of the Christian faith in the US, people will find Socialism attractive. Many of the young support Bernie Sanders.
Socialism will fail as it always does. Look at Venezuela. It is those cultures that can better-accept inequality that will prosper. Those who cannot, will become poorer. Of course, all cultures have its limit when it comes to tolerating inequality. But the ones who can tolerate it best will be the most prosperous in the new world of high tech firms.
The thing is that capitalism causes prosperity but inequality. Socialism causes equality but poverty. As Churchill said, "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries."
The better a society can accept inequality, the better for everybody, in the long run, even the poor. The poor in the US is better off than the middle class in Venezuela, Cuba and N Korea.