“The most perfect political community is one in which the middle class is in control, and outnumbers both of the other classes.”
This quote from Aristotle could not be more true in our modern society. A society with a strong middle class and a small gap between rich and poor is more likely to experience economic growth. Inequality negatively affects societies because the poor are less able to invest in their education, are more likely to suffer poor health and, as a result, will have lower productivity.
On the other hand, according to controversial former American Secretary of Labor Robert Reich, the very rich do not spend or generate jobs proportionally to their wealth. The wheel of economy does not spin because of the poor or the rich, it turns on the strength of the middle class.