““Some economic inequality critics go further and contend that there comes a point at which inequality undermines progress—and, by and large, they believe the United States has reached that point today. What do they base that conclusion on? There is no theoretical reason why differences in income or wealth should slow human progress. The notion that “spending drives the economy” and that rich people spend less than others isn’t a view seriously entertained by economists, who on the whole recognize that savings, investment, and innovation are what make us richer.””
