While there are ethical and social reasons to worry about inequality, they do not have much to do with macroeconomic policy per se. But such a link was seen in the early part of the twentieth century: capitalism, some argued, tends to generate chronic weakness in effective demand due to growing concentration of income, leading to a “savings glut,” because the very rich save a lot.
不平等性引起了人们关于道德和社会的担忧，但实际上，这些问题与宏观经济政策本身关系不大。不过，在20世纪早期，人们发现了这样的联系：有人指出，随着收入的逐渐集中，资本主义会导致有效需求的慢性疲软，导致“储蓄过剩”，因为富人大量囤积储蓄。者会促使国家转而寻求外部需求，从而引发“贸易战”。