Richest 62 people as wealthy as half of world's population

Inequality is bad for economy. A person that owns 100,000x of average doesn't spend 100,000x more. They have to invest the money. But there's nothing to invest in given that poor people don't have much money to buy stuff and rich people are all trying to invest rather than consume. So in the end they are forced to invest in dubious stuff like subprime debt and rely on government to pay the bill. Or to ride economic bubbles and hope to cash out right before they burst.

Here's a basic primer written by a Harvard professor: http://ideas.ted.com/the-4-biggest-reasons-why-inequality-is...