Excellent argument. I'd like to comment on two points. First, I'm wondering what laws you might suggest that local governments pass to address the issues, why these should be done at the local rather than the national (or international!) level, and whether the local governments are any less under the sway of the powerful economic interests than the national government.

Second, I think you make a good argument that "The way the rich will change things is by pressure from the poor." This certainly is what happened in the 1930s and 1960s. Of course, another alternative is that the poor try to gain political power themselves, and thereby not have to pressure the rich. That isn't a very easy thing to do, of course, but it would represent a profound shift and challenge to social inequalities.

Jim