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“If the economy is growing but only a few are enjoying the benefits it goes to our sense of fairness. It can have important political consequences.” Why can it have "important political consequences?"

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Economic inequality can have important political consequences because it can set the poor against the rich.  

When economic growth helps only the rich, the poor feel as if the system is not working for them.  They feel that they are working hard and getting no benefit while others grow richer and richer.  This leads to a great deal of resentment.  When the poor and middle class get very angry at the rich, bad things can happen.  We can get political class warfare that can lead to very bad economic policies.  In extreme cases, revolution can occur when the many are very angry at the few and feel that the few are exploiting them.

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