Instead of confronting the problem of excess wealth, liberal-minded political groups usually focus on relieving poverty, perhaps by enforcing and raising minimum wages. But raised minimum wages are easily negated when earnings and wealth at the top explode, driving up the price of housing and further augmenting the power of interests that are inimical to things that support general welfare, such as public transport, schooling and healthcare. As wealth gaps widen, the poor rely more on credit, which further enriches the already wealth. Investment becomes increasingly focused on financial opportunities. The principle of inequality, unchallenged, becomes further entrenched.

The epidemiological evidence suggests that inequality is a bit like asbestos: it has no known 'safe level'. Why not ban it? Or why not at least discuss banning it, to draw out all the arguments pro and con? [...]

Elitism's defenders have often argued that inequality is needed to spur innovation. The evidence gathered by this book contradicts that. The story of computers and high technology, in particular, tells us that tolerating inequality becomes downright dangerous as technology gets more powerful. The idea that big rewards (or even any material reward at all) are helpful in any productive sense, has no support [...]