Obviously there needs to be a balance. Too little inequality and we end up with communism, destruction of incentives for innovation, and a 10 year wait to drive

Obviously there needs to be a balance. Too little inequality and we end up with communism, destruction of incentives for innovation, and a 10 year wait to drive a Trabant - if you're lucky! Too much inequality and there's too small a market to sustain the extraction of wealth by the elite.