What effect does wealth inequality have on economic growth?
There is an astounding lack of consensus on the relationship between economic disparity and growth. Unsurprisingly, there are many factors that contribute to this polarization on the subject: First off, many theoretical arguments are often based on wealth distribution; however, empirical studies generally only cover statistics of income inequality, not that of wealth. Simply put, not enough countries produce numbers on wealth distribution for it to be a viable source of evidence. This is an issue because there is a general consensus that wealth inequality is much more significant than income inequality, at least in the realm of economic growth. Without concrete empirical data, these theoretical arguments will remain theoretical. And concrete data will not come forth without more studies on wealth distribution across the globe. Studies on the difference between wealth inequality and income inequality have even found that wealth inequality...