Joe Stigltz wrote a book on this topic. This article summarizes his views very well. There is no need for me to comment on the article. There is a reason why Stiglitz won a Nobel prize.http://campaignstops.blogs.nytimes.com/2012/10/26/stiglitz-some-are-more-unequal-than-others/?
(Please use the bottom link to the article. The first link does not work.)