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I would also suggest that inequality is also a problem in that it can distort the political process - this seems to be a particular problem in the US although we are hardly immune from it here in the UK.

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Many who argue this point are usually the ones who would be doing the distortion when the time comes -- for example, when Yanis Varoufakis argues that there needs to be more income redistribution across Europe or else the pitchforks and torcehs are coming, I wonder what the difference is between predicting instablity and vaguely threatening political violence.

My understanding is that Varoufakis is a pretty decent guy who tried to do the right thing but was hammered into the ground because he refused to play political games.

Edit: If nothing else I thank him for pointing out the irony of German politicians insisting that a "debt is a debt" to Greeks...

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