It's Not Income Inequality but How the Rich Got Rich

Hmm this article makes a lot of sense.

Carney continues, pointing out that wealth obtained through markets is good. Such success creates a bigger pie and helps boost living standards for everyone.

But wealth achieved via government is cronyism, and that contributes to economic stagnation.
"When a country’s wealthiest got wealthy through market means, the resulting inequality has no negative effect on economic growth. This jibes with what we know about free markets. If people can get rich by providing valuable things at good prices, then society will get more valuable things at good prices—and people across the income spectrum benefit. But if people get rich by pocketing subsidies and using the state to crush competitors, then they gained their wealth at the expense of everyone else.

When the rich got rich by selling a product that helps people be more productive at a cheaper price then it helps everyone. IE the Steve Jobs effect. You cannot argue that Apple has made lots of money for lots of people and helped all sorts of regular middle class folks while doing it. I mean they have 80k employees that work for them but also helps people at other companies and just consumers in general. The virtuous circle of capital.