When inequality gets too extreme, then it becomes useless for growth, and it can even become bad because it tends to lead to high perpetuation of inequality over time and low mobility.
Sentiment: NEGATIVE
You need some inequality to grow... but extreme inequality is not only useless but can be harmful to growth because it reduces mobility and can lead to political capture of our democratic institutions.
Rising inequality is toxic to growth. High levels of inequality exclude people - both as innovators and customers - diminishing both innovation and demand.
The difference between rich and poor is becoming more extreme, and as income inequality widens the wealth gap in major nations, education, health and social mobility are all threatened.
Income inequality is troubling because, among other things, it means that many people in our society don't have the opportunities to advance themselves.
Inequality makes everyone unhappy, the poor most of all, and that is well within the remit of the state. More money gives less extra happiness the richer we get, yet we are addicted to earning and spending more every year.
Inequality saps the economy by draining the buying power of Americans whose incomes have stagnated, forcing them to rely on debt to fund education, housing, and health care.
Inequalities of wealth lead to a dispersion in wealth for all.
Research suggests that large divisions of income and wealth weaken demand and generate economic imbalances that create instability and undermine growth.
It is the belief that extremes and excesses of inequality must be reduced so that each person is free to fully develop his or her full potential. This is why we take precious time out of our lives and give it to politics.
It's an irony that growing inequality could mean more money for philanthropy. In the U.S., quite a few of the ultra-rich have taken to heart the 19th century industrialist and philanthropist Andrew Carnegie's comment that it's a disgrace to die wealthy.
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