He lived in a time when racial segregation was the norm and wrote from the perspective afro american male.
Women had just gotten a right to vote and while they could get a job, huge part of them were housewifes. And the jobs they could apply were still very limited.
The whole socioeconomic situation and upbringing of people cant be compared to modern day EU. I think good example how much culture and history effects to the way people act, is watching how people in Japan react during and after disasters and compare it to how people in states react. Granted its extreme example and USA and EU are not that far apart from eachother, but it shows well how differently different cultures act in different situation. Hence i say, that MLK's writings cant just be willy nilly aplied to people living on the otherside of the world allmost a century after the writing.
I did not say money was smart. Im saying that if you have billions tied to a boat you dont want to shake it. Fasist regimes are not the same as oligarch. Hitler, Stalin and Mussolini were not rich busines men when they started their politics. Maybe they werent dirt poor either, but most of their wealth came after. If you look soviets at the beginning there were rich people who tried to fight the regime, but in the end they were forced to work with the leaders in power or disapear. What i am trying to say is, when people have lots of money tied to something, they try to keep things steady. Ofcouse there will be fanatics, but most people who handle huge amounts of money are business savy enough to see that tanking the economy now is not worth of the unsure payout in the future, when the way things go now are allready making them rich.