Or a country can have veryunequal distributions of wealth where trickle-down capitalism has made even those on welfare incredibly rich by global standards.
After that, their very own book shows time after time (see above) how veryunequal and late regulators were to every financial calamity that they describe.
One reason is that pecking orders matter more than in most other rich countries: income distribution is veryunequal and the unemployed, disaffected, ill-educated rump is comparatively large.