And, of course technological innovation that is capital-intensive and labor-saving is one of the factors – together with the related winner-take-all effects – driving the rise in income and wealth inequality. Rising inequality then becomes a drag on demand and growth (as well as a source of social and political instability), because it distributes income from those who spend more (lower- and middle-income households) to those who save more (high-net-worth individuals and corporate firms).
当然，资本密集型、劳动力节约型技术创新——加上与此相关的赢家通吃效应——也是收入和财富不平等加剧的原因。而不平等性的加剧又会拖累需求和增长（并成为社会和政治动荡的来源），因为它将收入从支出更多的群体（较低收入和中等收入家庭）抽走，分配给储蓄更多的群体（高净财富个人和公司企业）。